XRP popularity soars and on-chain activity is amazing

Despite XRP’s poor price performance, XRPL (XRP Ledger) has seen a significant increase in on-chain activity, with users returning to the blockchain.
XRP has been underperforming recently compared to other crypto assets. For instance, the altcoin has seen the least growth among the top eight cryptocurrencies despite improving overall market sentiment.
Additionally, XRP remains the only asset in the top eight to post a monthly price loss. Other coins, including Bitcoin, Ethereum, and Solana, rose by at least 5%, while XRPL’s native token fell by nearly 6%, mainly due to the crash caused by the SEC’s appeal notice in the Ripple case earlier this month.
Notably, this lackluster price action suggests that regulatory issues stemming from the long-running fight are weighing on the market. The SEC reopened the case based on its appeal.
In all of this, XRPL has seen a recent surge in on-chain activity, showing significant investor interest in XRP. Data from Santiment shows that investor usage of XRP and its underlying network continues to rise, reaching multi-month highs.
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Significant growth in on-chain activity
According to data from Santiment, there has been a renewed interest in the XRP Ledger due to increased usage. On Friday, there were 35,799 wallet addresses active on the XRPL network, the highest number since July 16.
Notably, this figure means that the number of active users who have made at least one transfer on the network has surged 80% from less than 20,000 addresses the day before.
At the same time, the surge in the number of users correlates with a surge in new wallet addresses created on the XRP Ledger. For context, 3,858 new users created wallet addresses on the blockchain, which indicates growth in adoption. It’s worth mentioning that XRPL requires each new wallet to keep 10 XRP as a safeguard against spam accounts.
The last time so many new users signed up on the network was seven months ago on March 14. Notably, Friday’s surge follows significant growth on Thursday, which also saw over 3,000 new wallet addresses created.

Santiment’s XRP on-chain activity
What does the future hold for XRP?
Although the recent surge in on-chain activity has yet to have an impact on XRP’s price, the community remains optimistic about the upcoming uptrend. For example, community sentiment on CoinMarketCap shows an 85% bullish bias towards the seventh-ranked crypto asset.
Additionally, market analysts have overlooked the recent underperformance and speculated that XRP could be in for a major rally. For example, expert Egrag said that after breaking out of the range, XRP will target $1.4679 and then rise to $7.5.
Additionally, expert Bobby A speculated that XRP could rise to $4 or $6, noting that XRP’s failure to fall below $0.51 following the SEC’s appeal could drive the asset’s price higher.
Meanwhile, XRP is currently trading at $0.55, having gained more than 1% in the past 24 hours.
Disclaimer: This content is informational only and should not be considered financial advice. The opinions expressed in this article may reflect the author’s own opinions and do not necessarily reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.