The XRP Ledger (XRPL) is witnessing a sharp rise in network activity due to increased user engagement and institutional interest. Over the past week, the average number of interacting addresses reached 295,000 per day.
User Activity Growth
According to data from analytics firm Santiment, the increase in user activity on the XRP Ledger has been steady throughout the week, indicating growing interest in the XRPL ecosystem among both individual users and larger entities.
Surge in Large Wallets
One notable change is the rise in the number of wallets holding over 1 million XRP. For the first time in its 12-year history, 2,708 such 'whale' and 'shark' addresses have emerged, indicating stronger institutional confidence in the network.
Markets React to Network Activity
On the price front, XRP has seen movement between $2.10 and $2.32, with the current price at $2.22, up 1.9% in the last 24 hours. Daily trading volumes have surged by 245%, highlighting market reactions to the on-chain activity.
Overall, the XRP Ledger is experiencing a notable growth period, which could strengthen its position in traditional finance and attract new interest from institutional players and individual users.
