CoinDesk Consensus

According to Messari data, almost 5 million accounts have been created on the Ripple-backed XRP Ledger (XRPL).

XRPL is a digital payment infrastructure powered by Ripple’s native token, XRP. The decentralized network has seen a surge in the total number of accounts created on the platform in recent months.

Ripple XRP ledger XRPL
Source: Messari

According to Messari data, XRPL’s daily account creation rate hit a record high in late 2021 and early 2022. But Bitcoin (BTC) and Ethereum (ETH) hit new lows.

However, daily account creation in XRPL is also recovering as the crypto market witnesses a steady streak of positive price performance in 2023. For context see XRP Scan data showed that the network has averaged over 1000 new accounts every day this year.

Messari founder Ryan Selkis noted the demand for XRPL and predicted that Ripple could win a case against the US Securities and Exchange Commission (SEC). Ripple and the SEC are embroiled in a legal battle over the classification of the XRP token.

Serkis Added:

“Ripple should win the XRP-SEC overreach lawsuit and give the XRP Ledger a chance to compete fairly in the global digital payments infrastructure.”

XRP goes up 15% when whale buys 420 million XRP tokens in 30 days

In addition to increasing adoption of XRPL, Ripple’s XRP has grown by more than 15% over the past 30 days. Becoming one of the best performers among the top 10 digital assets according to crypto slate data.

XRP price performance
Source: Trading View

Over the past 24 hours, the asset’s performance has increased by 15% to $0.449 at the time of writing. Tokens increased by 20% in the last 7 days.

Meanwhile, XRP’s market cap surged from $19.81 billion to $22.88 billion over the past 30 days.

Rise in price coincided with when crypto whales bought 420 million XRP token — Worth $155.4 million in the last 30 days. Citing data from Santiment, cryptocurrency analyst Ali said: Added around there 50 10-100 million whales XRP token participate in ripple network during the period.

By Jules

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