XRP Ledger Adoption Nearly Doubles in 3 Years

-Non-zero balance XRP wallet addresses have reached an all-time high of 5 million, a milestone in its 10-year history.

-In fact, the number of XRP holders has surged 170% since the beginning of 2020, signaling rising adoption of the network.

-Despite the positive on-chain metrics, XRP’s price has been flat, down 35% from its July court win.

Despite this, the price of Ripple’s native token, XRP, has remained subdued. the number of addresses with non-zero balances on the XRP ledger has hit an all-time high of more than five million.Whatsminer Miner

Technical analysts believe that this divergence between growing network activity and sluggish price action could lead to a significant price breakout.

XRP Ledger Adoption Growing

On January 27, Santiment, an on-chain analytics platform, reported that the number of wallets with zero or more balances on the XRP Ledger had reached 5.02 million. It added that this milestone represents the highest level in its ten-year trading history.Kaspa Miner

Notably, the most significant surge in network adoption has occurred in the last three years, when the number of XRP addresses has nearly doubled, increasing by 170 percent since the beginning of 2020. Additionally, the number of transactions on the XRP ledger has risen from According to XRPscan, the number of transactions from one wallet to another reached an all-time high of nearly 6 million earlier this month.

XRP Ledger wallet. Source: Santiment

Despite these impressive metrics, XRP has remained consolodation without any significant price action. only after the U.S. approved the spot Bitcoin ETF did its price rise to $0.615. However, some analysts remain optimistic about its potential.

One prominent XRP trader said, “A massive rally is coming! Looking very good, buyers have stepped in and defended the $0.52 to $0.48 range, forming a bullish engulfing candle, while Bullish Gartley’s 2nd retracement is supported and backtesting the range and sending reports.”