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Recent data from&nbsp;<a href="https://xrpscan.com/metrics" rel="noopener noreferrer nofollow">XRPScan</a> explorer reveals a noteworthy development on XRP Ledger, with a substantial 40% increase in new accounts registered within a single day, totaling 3,513 new users daily.
This surge marks the third such increase in the past three weeks, raising questions and interest within the community. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="9271cc16-d0f5-4d33-8420-035d5b2765f2" src="https://u.today/sites/default/files/inline-images/number-of-new-accounts-a.png">Source: <a href="https://xrpscan.com/metrics" rel="noopener noreferrer nofollow">XRPScan</a>
The uptick in user activity coincides with a period of price stability for&nbsp;<a href="https://u.today/binance-to-cut-these-xrp-and-ada-products-as-exchange-remains-aim-for-sec" rel="noopener noreferrer nofollow">XRP</a>, the native token of the&nbsp;<a href="https://u.today/xrp-ledger-architect-reacts-to-shocking-actions-of-sec" rel="noopener noreferrer nofollow">XRPL</a> ecosystem. Despite the influx of new users, popular the cryptocurrency managed to maintain a crucial support level at $0.6 per token, a level it has held for more than 45 days.
This stability follows a period of growth exceeding 50% since mid-October, with a subsequent correction to the midway point. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="a90b8cd8-4404-4bda-8485-7e8d69e51819" src="https://u.today/sites/default/files/inline-images/XRP_7D_graph_coinmarketcap%20%281%29_0.jpeg">XRP to USD by <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
One may interpret the current phase as a consolidation, a potential precursor to upward price movement. This interpretation aligns with traditional views on consolidation patterns and suggests possible future growth in XRP's value.&nbsp;
In this case, the surge in new users could be considered a contributing factor, indicating a broadening and more engaged user base.
However, the unpredictable nature of the crypto market introduces the possibility of downward price movement for XRP, as seen in historical market trends. Regardless, the key observation is the consistent support level at $0.6 per XRP, providing a clear benchmark for investors.&nbsp;
As long as buyers continue to support quotes at this level, the future trajectory of&nbsp;the <a href="https://u.today/3-reasons-why-xrp-is-underperforming-in-this-rally" rel="noopener noreferrer nofollow">XRP price</a> inspires cautious optimism.

XRP Ledger Booms With 40% Spike in Accounts as XRP Price Holds Crucial Level

U_Today

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