- XRPL surpasses 5M accounts, indicating increased user adoption and potential for growth in its ecosystem.
- Despite a bearish market, XRP trades at $0.5736 with predictions of reaching up to $1.62 by year-end, showing market confidence.
- The emergence of XRP Script and growing transaction volumes (6.8M daily) suggest expanding utility and demand for XRP.
The XRP Ledger (XRPL) ecosystem has achieved a significant milestone by surpassing 5 million active accounts, according to reports from XRPL explorer XRPScan. This marks a historic moment for the blockchain network, as it’s the first time that the number of active XRP wallets has exceeded this threshold after hovering around the 4 million mark for nearly two years. At the time of reporting, the count had reached an impressive 5,014,100 accounts.
The total XRP supply currently stands at 99,988,011,262 XRP (approximately 99.98 billion), with 12,015,124 XRP already burned and 40.5 billion XRP held in escrow. Interestingly, the top 12 largest XRP wallets are all owned by the American crypto payment firm Ripple.
XRP Ledger Services, a prominent analytical platform, indicated that the total XRP in accounts amounts to 59,479,489,188 XRP. There are 1,429 wallets with zero balances, while the total account reserves collectively hold 50,145,350 XRP.
This surge in XRP accounts suggests that users are actively integrating their accounts into the XRP ecosystem, utilizing their balances for transactions and building valuable reserves. Notably, Chris Larsen, the Chairman of Ripple and the founder of XRPL, is reported to hold over two billion XRP across five different wallets.
The XRP rich list page revealed that only 85 wallets boast 500 million XRP or more holdings. Meanwhile, 1,520,402 addresses hold balances below 20 XRP, and 2,409,294 wallets have between 20 and 500 XRP, with 181.99 million XRP held in these accounts. This data underscores the increasing interest and active participation within the XRPL ecosystem, potentially driving the asset to new price heights.
In 2023, XRPL recorded an impressive daily transaction count of 6.8 million, indicating a growing demand for its utility. While the exact reasons for this surge in interest remain uncertain, some experts have linked it to the introduction of a project known as XRP Script. This project allows users to integrate data in small transaction amounts to create digital artifacts called XRP20s, potentially adding value to the ecosystem.
As of the latest data, XRP traded at $0.5736, marking a marginal 0.64% decrease in the last 24 hours. Investors had also seen a 3.5% return on their weekly investments. However, it’s important to note that the market sentiment for XRP was bearish. Nevertheless, analysts predict that the asset could rebound and reach $1.28 within the year, with an average prediction of $1.45 and a potential high of $1.62 by year-end.
Additionally, some analysts, like EGRAG CRYPTO, anticipate more rapid price surges, with XRP potentially reaching $0.85, $1, $5.5, and $6.1 in just a few months. These predictions reflect the growing optimism surrounding XRP’s future performance in the cryptocurrency market.
