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XRP hits 5 million active accounts

XRP hits 5 million active accounts

Although the majority of assets in the cryptocurrency industry have turned a greener leaf in anticipation of an approval of the first spot Bitcoin (BTC) exchange-traded fund (ETF), XRP is recording losses in value. However, it has excelled elsewhere – in the number of active accounts.

As it happens, the XRP token has recently reached a major milestone of over 5 million active accounts with XRP holdings on the underlying XRP Ledger blockchain, according to the data shared by the analytics platform XRPScan in an X post on January 8.

XRP distribution across accounts. Source: XRPScan

Indeed, according to recent information, there are now 5,001,597 active accounts with XRP balance on XRP Ledger – a massive success for the crypto asset that has suffered from being at the center of the legal standoff between the United States Securities and Exchange Commission (SEC) and Ripple.

XRP price analysis

Meanwhile, XRP is changing hands at the price of $0.565, which suggests an increase of 0.18% in the last 24 hours, as the sixth-largest asset in the crypto market moves to overturn the loss of 10.29% across the previous seven days and the 14.25% drop on its monthly chart, as per data on January 9.

XRP 24-hour price chart. Source: Finbold

It is also worth noting that crypto analyst Cryptoinsightsuk recently highlighted the significance of the anticipated Bitcoin spot exchange-traded fund approval and its potential influence on the trajectory of XRP, which he believes is ready for a breakout, as Finbold reported on January 7.

All things considered, the situation seems to be looking up for the embattled crypto asset, primarily in terms of increased interest in possessing and trading it, as reflected in the number active accounts, which could also signal an improved price in the future due to heightened demand.

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