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- XRP experiences a 3.2% surge, reaching $0.531 and signaling a potential reversal of fortunes in the market.
- The XRP Ledger achieves a significant milestone with 5.02 million distinct wallets, marking a 104% growth in three years.
- Speculation about the introduction of XRP ETFs gains traction, contributing to investor optimism.
XRP has experienced a noteworthy surge of 3.2% in the last 24 hours, reaching $0.531. This uptick not only marks a potential reversal of fortunes for XRP but also sparks optimism among investors and enthusiasts.
One of the driving factors behind this surge is the impressive growth within the XRP ecosystem. The XRP Ledger (XRPL), a crucial component of the XRP network, has achieved a significant milestone.
đ #XRPLedger now has 5.02M distinct wallets that hold more than 0 $XRP coins, the most in its now 10+ years of public trading years. The #6 asset in #crypto by market cap has more than doubled such wallets in 3 years (+104%) as the network expands. https://t.co/YZBcHsOuSS pic.twitter.com/o0m6PKE0Re
â Santiment (@santimentfeed) January 27, 2024
Currently, it reports an impressive 104% growth in the last three years, with 5.02 million distinct wallets holding non-zero XRP coins. This expansion indicates a rising user base, establishing the XRP Ledger as a robust contender in the cryptocurrency market.
At the same time, speculations about XRP ETFs gaining momentum contribute to the positive vibes in the XRP market. Observers, including a crypto journalist, emphasize the potential need for a futures ETF as a precursor to an XRP spot ETF.
This speculation gains credibility as Ripple actively seeks a senior manager for business development in New York, with explicit references to âdrive cryptocurrency-related ETF initiatives,â hinting at potential plans for an XRP ETF.
The potential approval of an XRP ETF is seen as a significant leap for the cryptocurrency. Drawing parallels with Bitcoin spot ETFsâ approval process, it may pave the way for broader market acceptance and regulatory approval, laying the groundwork for a spot ETF.