Convergence

Divergence

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ripples-expanding-user-base-wallet-growth-surges-amidst-bearish-market-trends" rel="noopener noreferrer nofollow">Ripple’s Expanding User Base: Wallet Growth Surges Amidst Bearish Market Trends</a><br></p>
<p style="text-align: justify">Ripple (<a href="https://en.bitcoinhaber.net/bitcoin-and-xrp-analysts-predict-end-of-bull-run-and-year-end-targets" rel="noopener noreferrer nofollow">XRP</a>) has seen a surge in the number of active wallets, reaching a record high in January 2024, as reported by Santiment. This growth indicates increasing adoption and investor interest in XRP, despite a bearish market trend.</p>
<h2 id="ripple-s-milestone-achievement">Ripple’s Milestone Achievement</h2>
<p style="text-align: justify">Achieving a significant milestone, the number of XRP Ledger (XRPL) wallets with non-zero balances has soared to 5.08 million, marking a 170% increase since early 2020. This growth is a testament to Ripple’s expanding footprint in the cryptocurrency space over the past decade.</p>
<p style="text-align: justify">The data also highlights a threefold rise in the number of wallets since May 2019, demonstrating a 300% increase in XRP holders over five years. Alongside wallet growth, transaction activity on the XRP ledger has reached new heights, with inter-wallet transactions hitting a record 6 million at the start of the current month.</p>
<h2 id="the-downtrend-in-xrp">The Downtrend in XRP</h2>
<p style="text-align: justify">Despite these achievements, XRP’s market sentiment remains bearish, with its trading price at $0.5268, significantly lower than its peak of around $0.9 in July. The low trading volume suggests waning investor interest or confidence. Technical indicators like the Relative Strength Index (RSI) and On-Balance Volume (OBV) show limited positive momentum, while the Moving Average Convergence Divergence (MACD) values confirm the ongoing bearish trend.</p>
<p style="text-align: justify">Overall, Ripple’s user base expansion contrasts with the negative market sentiment, as evidenced by the all-time high wallet count and record transaction activity on the XRPL. However, the current price and trading volume of XRP reflect a market still in a downtrend, awaiting potential shifts in investor sentiment or market dynamics.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ripples-expanding-user-base-wallet-growth-surges-amidst-bearish-market-trends" rel="noopener noreferrer nofollow">Ripple’s Expanding User Base: Wallet Growth Surges Amidst Bearish Market Trends</a></h5>

Ripple’s Expanding User Base: Wallet Growth Surges Amidst Bearish Market Trends

Table of Contents

BH NEWS

Other articles published on Jan 29, 2024

METALSWAP KNOWLEDGE - DISCOVER RWA DAPPS

Fidelity’s Ethereum ETF Verdict Delayed by SEC; Uniswap and InQubeta Excel Beyond Anticipated Res...

Bitcoin (BTC) Sees Huge Accumulation Trend Amid 48% Surge in New Addresses

Stellar Development Fund postpones Soroban upgrade, gains commendation from Stellar community

Unibot Drives Token Value Higher by Distributing 80% of Solana-based UNISOL to UNIBOT Holders

DOGE and SHIB Price Analysis for January 29

Join our free newsletter for daily crypto updates!