According to analytics firm Santiment, the XRP network is showing steady growth with new wallets created daily. This growth in activity underscores sustained interest in the network's long-term potential.
Dynamics of New XRP Wallet Creation
On average, around 7,500 new XRP wallets are created each day. The peak activity occurred on July 17, with over 11,000 new wallets added in a single day. This signals growing interest in the network's utility.
Price Decline and Recovery of XRP
Despite experiencing a sharp drop following significant sell orders on the South Korean exchange Upbit, XRP has rebounded, climbing back from below the $3 mark to $3.26 on Bitstamp. Analysts suggest that the $3.20 level may now serve as a short-term support zone.
Long-Term Prospects for XRP
Despite recent price fluctuations, the consistent expansion of the XRP network's user base sets it apart from other tokens. The ongoing growth suggests strong user engagement and increasing real-world adoption.
Therefore, despite short-term fluctuations, the activity in the XRP network continues to grow, which may indicate the token's long-term stability in the market.
