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XRPthe fourth largest cryptocurrency by market capitalization, has seen growth in its price and number of holders. XRP has seen a significant increase in non-empty wallets; According to on-chain analytics firm Santiment, the recent massive increase in XRP wallets, followed by a steady record rise in Ethereum wallets, shows two years of massive growth in cryptocurrencies.
saint He noted that the past two years have witnessed significant growth in the number of cryptocurrency holders across the board. This trend is reflected in the growing number of non-empty wallets for the top four cryptocurrencies by market cap: Bitcoin (BTC): 54.7 million wallets, representing a 27% rise; Ethereum (ETH): 134.9 million wallets, up 47%; Tether (USDT): 6.57 million wallets, up 66%.
XRP expanded by 5.75 million wallets, representing 28% growth. The trend of increasing non-empty wallets coincides with the rise in the price of XRP. According to CoinGecko data, the price of XRP has risen by 253% annually, indicating a significant rise in investor interest.
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At the time of writing, the price of XRP has fallen by 2.78% over the past 24 hours to $2.19, reflecting the ongoing selling in the cryptocurrency market.
XRP wallets are growing amid regulatory clarity and network growth
According to Santiment, on October 18, XRP wallets began to increase at a parabolic rate. This is linked to increased clarity on the regulatory status of XRP and a boom in on-chain activity.
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In October, second It announced its intention to appeal the court's ruling that some previous XRP distributions by Ripple were securities. Importantly, the SEC's appeal was not about whether XRP itself was a security. The court ruled in favor of Ripple in July 2023, unequivocally stating that XRP is not a security — and that the SEC will not appeal that decision.
That same month, Ripple filed Form C, outlining the arguments it intends to make in its cross-appeal.
On-chain activity has rebounded from declines in May and June, with Q3 showing exceptional growth, with the number of successful transactions more than double the number of transactions in Q2. The increase was mostly due to microtransactions (<1 XRP="XRP">
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