XRP, the cryptocurrency behind Ripple, is seeing a massive surge in the number of active wallets. This growth significantly outpaces giants like Bitcoin and Ethereum.
Rapid Adoption of XRP
Data from Santiment, a blockchain analytics firm, reveals a huge increase in the “Total Amount of Holders” for major cryptocurrencies over the past couple of years. This metric tracks the number of addresses holding a non-zero amount of a cryptocurrency. A rise suggests new investors are joining, existing investors are buying back in, or users are creating multiple addresses for privacy. Usually, it’s a combination of all three. A drop, on the other hand, means investors are selling off.
The Chart Speaks Volumes
The chart below shows the trend for the top four cryptocurrencies: Bitcoin, Ethereum, Tether, and XRP. All four show growth, but XRP stands out.
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While Bitcoin, Ethereum, and Tether show a steady increase, XRP’s growth has recently exploded. The chart shows this significant increase began around October 18th. Interestingly, the price didn’t really start to climb until mid-November, suggesting the increased adoption laid the groundwork for the price increase.
Long-Term Adoption Trends
Over the past two years, Tether (USDT) leads in adoption growth at around 66%, followed by Ethereum (47%), XRP (28%), and Bitcoin (27%). Even though XRP’s growth is impressive, it still has the smallest number of investors among these top cryptos, currently sitting at 5.75 million.
Current XRP Price
Like other cryptocurrencies, XRP’s price has slowed down recently, currently trading around $2.17.
