Analytics platform Santiment reported a significant increase in active wallets on the XRP Ledger network.

Increase in Active Wallets

The number of unique active wallets with at least one transaction per day has risen to 35,799, the highest level in three months. The network also recorded the largest number of newly created wallets within a single day since March 14.

Factors Influencing Network Activity

The reason for the sudden increase in network activity is not immediately clear. Recently, the XRP cryptocurrency gained attention due to the SEC's appeal in the Ripple case. Although the price of XRP increased slightly by 1.1% in the past 24 hours, now trading at $0.54, the wallet activity is yet to translate into a significant price increase.

Key Players in Network Transactions

A substantial part of the activity on the network is driven by a few major players. Artur Kirjakulov, CEO of XPMarket, revealed that only 10 wallets make up 58% of all transactions on the XRP Ledger. One wallet accounts for 15% of all transactions. He noted that these data should not necessarily be used to support centralization arguments against Ripple since some major wallets are not related to the company.

The increase in activity on the XRP Ledger network has attracted attention and sparked discussions within the community. Despite current price stability, the future of the network looks intriguing.