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XRP Surpasses 5 Million Active Accounts, Signaling Market Growth

XRP’s growth surpasses 5 million active accounts highlighting increased investor interest and a diverse holder landscape.

Jay Hicks

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XRP surpasses 5m

Ripple (XRP) has reached a significant milestone with over five million active accounts, a notable development for the cryptocurrency sector. This achievement, tracked by XRPScan, a leading XRP Ledger explorer, demonstrates a notable surge in investor interest and confidence in XRP.

Breaking the nearly two-year stagnation in active account numbers, this growth ushers in a new era for digital currency. XRP’s growth surpasses 5 million active accounts highlighting increased investor interest and a diverse holder landscape.

Understanding XRP’s Market Dynamics

Its distribution and escrow practices characterize the current state of XRP’s market. Approximately 40.5 billion of the total XRP supply is locked in escrow services, leaving about 59.46 billion tokens in circulation.

Also Read: Ripple (XRP) Predicts Crypto Regulation Shifts in 2024

Ripple, a major American crypto payment firm, uses this escrow mechanism to stabilize and predict XRP’s supply. Additionally, Ripple holds a substantial portion of these tokens, including about 40 billion in escrow and 5 billion in spendable wallets. Prominent crypto exchanges such as Binance and Kraken also hold large quantities of XRP, highlighting institutional interest.

Diverse Holder Landscape

The distribution of XRP among its holders presents a diverse picture. The top end of the spectrum is concentrated, with only 85 wallets holding over 500 million XRP each. In stark contrast, most of the 1,520,402 addresses hold less than 20 XRP, pointing to a large base of small-scale investors.

The majority of XRP holdings are within the middle range, with around 2.4 million wallets holding between 20 to 500 XRP. Notably, figures like Chris Larsen, Chairman of Ripple, feature among the top 50 holders, with Larsen holding over two billion XRP across five wallets. This significant growth in active accounts reflects a strengthened trust and interest in XRP, marking a key moment in its journey and the broader acceptance of cryptocurrencies in the financial world.

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