XRP wallet activations soared by 1,000% in three months, reflecting heightened interest amid rising token prices and market activity.
Ripple's XRP recorded a 284% price surge in November, marking its strongest monthly performance since December 2017.
XRP surpassed Binance’s BNB in market capitalization, driven by ETF speculation and regulatory optimism following SEC Chair Gary Gensler's departure.
Recent data from XRPScan reveals an extraordinary tenfold increase in XRP wallet activations over the last three months. This surge reflects growing interest in Ripple's XRP, coinciding with significant market activity and heightened optimism surrounding the token.
https://twitter.com/xrpscan/status/1863087985605890191
XRP Price Surges to Six-Year High
XRP experienced an astonishing rally in November, with its price climbing 284% during the month. This marked its strongest monthly performance since December 2017. The remarkable increase vastly outperformed broader market trends, positioning XRP as a standout performer.
Market speculation surrounding cryptocurrency exchange-traded funds (ETFs) and optimism about regulatory changes fueled XRP’s growth. The announcement of SEC Chair Gary Gensler’s departure contributed to the optimism, with investors anticipating a more favorable environment for cryptocurrencies.
XRP Surpasses Binance's BNB in Market Value
Amid the rally, XRP overtook Binance’s BNB token in market capitalization earlier this week, further underlining its strong momentum. This development underscores investor confidence in Ripple’s ecosystem and the broader adoption of its token.
Responding to increased activity, the XRP Ledger community voted to lower the account reserve from 10 XRP to 1 XRP and the object reserve to 0.2 XRP. This adjustment aims to make account activations more accessible. Originally, the base reserve was set at 1,000 XRP during the ledger's inception and has gradually decreased over time.
In line with its monthly schedule, Ripple unlocked one billion XRP tokens in November, maintaining transparency and predictability in its token supply. As of now, the company holds 38.9 million XRP in its escrow accounts, ensuring control over supply and circulation.
