The $XRP Ledger (XRPL), which uses $XRP as its native token, has recorded steady organic user growth over the past 30 days through May 4.
The XRPL added 67,186 new addresses in the past 30 days, up from 8,198,608 on April 5 to 8,265,794 on May 4, according to data from CryptoQuant analyzed by Finbold on May 5. As such, the $XRP Ledger registered 0.82% month-over-month (MoM) growth in users, reaching a new all-time high (ATH) at press time.
Notable adoption in Asia appears to have driven XRPL’s steady growth in the past four weeks. For example, Rakuten recently integrated the network into its ecosystem, which has roughly 100 million members, as Finbold reported. Additionally, SBI Ripple Asia, a strategic joint venture between SBI Holdings and Ripple Labs, began using the $XRP Ledger to power new token issuance infrastructure, as Finbold previously noted.
The network’s ability to process thousands of transactions in seconds at low cost has attracted more cross-border payments, as Finbold explained. Moreover, the XRPL has maintained uninterrupted ledger growth of more than 63 million for over 10 years.
$XRP Ledger gains boost bullish sentiment
Following the gradual adoption of the $XRP Ledger, the $XRP price signaled growth during this timeframe. The token’s price gained 3.25% in 30 days, trading at approximately $1.41 on Tuesday. As such, the altcoin’s market capitalization surged to hover around $86.9 billion at the time of publication.
The growing adoption of $XRP Ledger could mitigate expected near-term bearish sentiment. Furthermore, $XRP price has been trapped in a multi-month sell-off, with a potential drop below $1 as Finbold highlighted.
