Nonempty XRP Wallets Witness 7% Growth in Six Months
According to U.Today, on-chain analytics firm Santiment has reported a significant increase in nonempty XRP wallets. Over the past six months, the number of nonempty wallets holding XRP has surged to an impressive 5.2 million, marking a 7% growth. The current count for accounts on XRP Ledger is 5,183,760, holding a substantial 59,778,941,576 XRP. Only a small fraction of these, 1,939 addresses, had zero balances.
The rise in nonempty wallets could indicate an influx of new users and investors into the XRP ecosystem. As XRP gains popularity as a mainstream asset, more people are showing interest in purchasing and holding XRP tokens, leading to an increase in the number of active wallets. Ripple CEO Brad Garlinghouse has expressed enthusiasm about the growing number of XRP community-led events and the increasing momentum of projects built on the Ledger.
In addition, Santiment has noted a large movement of dormant tokens on the XRP Ledger at the beginning of May. The Token Age Consumed metric reveals a pattern similar to the spike in old coins being moved on April 13, just before the market downturn and a 16% drop in XRP value. However, this time, the movement of old coins could be related to potential buy-the-dip interest from key stakeholders, as prices have been somewhat on the rise since the May spike. Open interest on exchanges has also reached a three-week high, with XRP's total open interest on exchanges hitting $483.4 million on May 2, the highest since April 13.
