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HomeCrypto NewsMarketXRP Wallets Spikes Above 4.34M, Gaining 29,883 New Addresses In Days

XRP Wallets Spikes Above 4.34M, Gaining 29,883 New Addresses In Days

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The number of addresses holding XRP spikes.


Investors’ confidence in Ripple (XRP) has recently surged tremendously. This is reflected in the spike of addresses holding XRP. According to data from XRP validator Rich-List.Info, the total number of addresses holding XRP currently sits at 4,341,298 (4.34 million).

The data suggest that 29,883 new addresses were added to the Ripple network in only 25 days. As reported by The Crypto Basic on October 1, 2022, 4,311,415 (4.31M) wallet addresses were holding the sixth-largest cryptocurrency by market capitalization.

Interest in XRP Surge Amid Positive Developments in SEC Lawsuit

Interestingly, as positive developments are recorded in the ongoing lawsuit between Ripple and the Securities and Exchange Commission, investors regained confidence in the asset class. Investors’ confidence in XRP is slightly reflected in the asset’s price. At the time of writing, XRP is changing hands at $0.467, up 2.1% in the last 24 hours.

Aside from the growth in the number of wallets holding XRP, there have been large XRP movements among whale investors over the past week. Whales have transferred billions of XRP to different addresses on exchanges and unknown wallets. On certain occasions, Ripple has sometimes been involved in these large XRP transfers. Recently, Ripple transferred 75 million XRP to an anonymous whale.

Ripple v. SEC Lawsuit

Meanwhile, several developments have emerged in the lawsuit between Ripple and the SEC. The parties have filed their summary judgment motions. Both the SEC and Ripple have also filed replies to each others’ summary judgment motions.

Ripple recently slammed the SEC in a motion, saying the agency cannot establish a legal theory to back its claim that XRP is a security. The blockchain company recorded a significant win in the lawsuit earlier this month, as the SEC finally surrendered William Hinman’s documentsThese exciting developments helped revive investors’ confidence in XRP.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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