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Ripple News: XRP Ledger Surpasses 5 Million Accounts, Setting a New Record

John KumiBy 0Edited by John Kiguru 15. January 20243 Mins Read
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  • According to the latest report, XRP Ledger (XRPL) surpasses 5 million accounts after almost two years of hovering around 4 million. 
  • XRP has had a little price movement in the past couple of days as the market sentiment flips to bearish. 

XRP Ledger (XRPL), a blockchain ecosystem that focuses on cross-border payment is reported to have achieved a major milestone as it surpasses 5 million accounts. 

This groundbreaking move was announced by the XRPL explorer, XRPScan. According to the report, this is the first time an active XRP wallet has surpassed this mark. For almost two years, XRP holders have hovered around the 4 million mark. The count was around 5,000,315 as of press time.

Specifically, the total XRP available is 99,988,011,262 (99.98 billion) XRP. On top of that, 12,015,124 XRP have been burned while 40.5 billion XRP is held in escrow. XRPScan discloses that the top 12 most prominent wallets holding XRP belong to American crypto payment firm, Ripple. 

XRP Ledger Services, a leading analytical platform is also showing the total XRP in account to be 59,479,489,188 XRP. Wallets with zero balance as of press time were 1,429, with the total account reserves having 50,145,350 XRP. 

According to the report, the users are integrating their accounts into the XRP ecosystem, taking advantage of balances for transactions, while establishing valuable reserves.

XRPL Impacted by XRP Script Introduction?

Chris Larsen, the Chairman of Ripple and founder of XRPL is reported to hold more than two billion XRP across five different wallets. An XRP “rich list” page also shows that only 85 wallets hold 500 million XRP or more. For balances below 20 XRP, 1,520,402 addresses were reported to hold such amounts. 2,409,294 wallets also hold between 20 and 500 XRP. In total, 181.99 million XRP is held in wallets within this category. 

The data shows an increasing interest and active participation that could propel the asset to a different price height. Ending 2023, XRPL recorded an impressive 6.8 million daily transactions. The reason for the increasing interest is yet unknown, but some experts have linked it to the introduction of a project called XRP Script. It is an NFT minting project that enables users to integrate data in small transaction amounts to create a digital artifact called XRP20s. 

As of press time, XRP was trading at $0.579796 after marginally surging by 0.62% in the last 24 hours. Investors had also recorded a 3.5% return on their weekly investment. However, the market sentiment of XRP was bearish with a score of 31/100. 

Regardless, analysts predict that the asset could take a rebound to hit $1.28 this year. On average, XRP is predicted to hit $1.45 or proceed to trade at $1.62 before the year ends. 

Another analyst identified as egragcrypto predicted that XRP could surge to $0.85, $1, $5.5, and $6.1 in just a few months. 

The ‘Final Wake Up Line’ is gauging the next #XRP breakout. Once #XRP breaks it and retests it without breaking Fib 0.236 (0.45c) on the Weekly Time frame then I can say with a high degree of certainty that Fib 1.618 ($5.5 – $6.4) is within reach.

 

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

John is a seasoned cryptocurrency and blockchain writer and researcher, boasting an extensive track record of years immersed in the ever-evolving digital frontier. With a profound interest in the dynamic landscape of emerging startups, tokens, and the intricate interplay of demand and supply within the crypto realm, John brings a wealth of knowledge to the table. His academic background is marked by a Bachelor's degree in Geography and Economics, a unique blend that has equipped him with a multifaceted perspective. This diverse educational foundation allows John to dissect the geographical and economic factors influencing the cryptocurrency market, offering insights that go beyond the surface. John's dedication to the crypto and blockchain space is not merely professional but also personal, as he possesses a genuine passion for the technologies that underpin this revolutionary industry. With his astute research skills and commitment to staying at the forefront of industry trends, John is a trusted voice in the world of cryptocurrencies, helping readers navigate the complex and rapidly changing terrain of digital assets and blockchain innovation. John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: info@crypto-news-flash.com Phone: +49 160 92211628

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