XRP Ledger surpassed 5 Million Wallets, what will happen to XRP Price?

In a remarkable development, the XRP Ledger, integral to the XRP digital currency, has indeed achieved a milestone by surpassing 5 Million registered wallet addresses. This accomplishment coincides with a broader resurgence in the cryptocurrency market, just like Bitcoin’s recent surge beyond the $45,000 mark.

Transactions on XRP Ledger on the rise

Ripple, closely associated with the XRP Ledger, holds a substantial portion of XRP, totaling approximately 45 billion tokens across escrow and spendable accounts. A detailed analysis of the ledger highlights a diverse user base, with the majority of XRP holders maintaining a modest amount ranging from twenty to five hundred tokens in each wallet. This distribution underscores the widespread participation of users with smaller investments in the digital asset.

Are XRP Tokens centralized?

Furthermore, data reveals that more than two million XRP accounts collectively manage an impressive 182 million XRP. Considering the total XRP supply nearing 100 billion tokens, the current estimated value stands at a significant $56.41 billion.

What’s the impact on the Crypto Market?

The achievement of 5 million wallet addresses on the XRP Ledger mirrors the positive sentiment prevailing in the cryptocurrency space. Notably, Bitcoin’s recent surge has contributed to an optimistic atmosphere, fostering increased interest and participation in various digital assets.

As the XRP Ledger continues to demonstrate remarkable growth, the broader cryptocurrency market is experiencing a resurgence, signifying renewed confidence among investors. The diverse user distribution and substantial XRP holdings underscore the platform’s significance and the growing appeal of digital assets. All of this positive development could boost XRP prices higher. At the current price of around $0.56, XRP price can be significantly undervalued.