- Since the Ripple partial ruling, many things seem to be going well for the token. During the early days of the ruling, XRP price touched new levels. In fact, it created a compound effect, as it made other cryptocurrencies increase in price.
- However, XRP’s price decreased by large margins since the ruling. But one thing remains constant. The number of active addresses on the network continues to increase.
XRP is one of the cryptocurrencies that are always on the news for one thing or the other. Since the Securities and Exchange Commission sued the crypto project, it is one of the tokens to look out for in the news. So when the public heard it is no longer a security, there was joy all over the crypto industry. But most importantly, it brought the Ripple community together, with many investors putting more money into the token. But after the hype that came with the ruling, XRP went down in price. Recent data shows investors aren’t leaving the token any time soon. Apparently, the Ripple community and investors are solidly behind this project.
XRP Records Increase in Active Users
Recently, XRP came very close to reaching the 200,000 mark in the number of active addresses. This happened on the 8th of August, 2023, after the token was only less than 11,000 short of touching the 200,000 level in the number of active addresses.
Looking at the data provided by Messari.io, Ripple had a consistent manner of increasing active addresses within the past seven days. As of the 4th of August 2023, the token has only more than 28,000 active addresses. However, it went down after recording 26,138 active addresses the next day. But then there was an upsurge on 6th August when more than 70,000 active addresses popped up in the data. Apparently, at this point, more Ripple investors got into the train.
The increase in active addresses continued when the XRP had a whopping 125,142 active addresses on the 7th of August. Then the breakthrough came on 8th August when the token saw an active address of 189,349. This is less than 11,000 shy of reaching the 200,000 threshold.
What Do The XRP Active Address Increase Signify?
The increase in the number of active addresses on XRP means a lot for the ecosystem. In fact, one of the things the new data signifies is that XRP investors are not losing hope.
They still believe the crypto token will slowly continue to make its way to the top. Moreover, the number of active addresses declined. But getting close to 200,000 is something the XRP community would love to see more.
Conclusion
After the XRP partial ruling, the token continues to struggle to find its feet. In fact, it continues to go downhill after the hype dies down. But within the community, investors are still supporting the token. This is evident in the number of daily active addresses on the XRP ecosystem. Close to 200,000 active addresses were recorded.
