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XRP, one of the top 10 largest digital currencies by market capitalization, has witnessed a new milestone, with a whopping 5 million wallets holding almost 60 billion XRP tokens amid a rallying digital asset market.
As per the latest data provided by an XRP Ledger explorer, XRPL Services, there are currently 5,090,851 wallets holding 59.87 billion XRP tokens. On the other hand, there are currently 1,595 wallets with 0 zero balances.
The data shows a remarkable boost in the adoption of XRP after a US judge ruled in 2023 that XRP was not a security when sold to retail investors. However, the token was termed a security when sold to institutional investors by Judge Analisa Torres.
As per the data from CoinGecko, XRP has gained 6.7% in the past week, followed by 65.9% in the past year. However, the digital currency has underperformed when compared to other tokens like Solana (SOL), which went up by 641% in the past year.
Notably, multiple analysts have predicted a rally for XRP tokens. Recently, a crypto trader identified as CoinsKid on social media platform X stated that the cryptocurrency is gearing up for a price surge while penning a “blow-off top theory.” CoinsKid stated that there is a strong possibility for XRP to skyrocket to $2 by July.Further, there have been talks of an XRP exchange-traded fund (ETF) as well, following the approval of eleven spot Bitcoin ETF applications in the United States.
In an interview with Bloomberg TV, Ripple CEO Brad Garlinghouse said that he is open to a spot XRP ETF, adding that the offering would legitimize the cryptocurrency’s place in the traditional finance world.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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