Wallets Holding XRP Surpass 4,800,000

XRP Ledger Hits New Milestone as Wallet Address Count Tops 4,800,000 (4.8M).

The XRP Ledger (XRPL) now boasts over 4.8 million wallets, as the growth rate has remained on an upward trajectory since inception.

XRP has recorded another major milestone, strengthening the perception that more users are beginning to adopt it as their preferred crypto asset. Data from rich-list.info confirms that over 4.8 million XRP wallets are now in the ecosystem.

The Historic XRP Wallet Growth

The data shows a steady rise in the total XRP wallet growth. The addresses registered on the network rose from 4,100,000 on April 1, 2022, to more than 4,800,000 on the first day of this month.

This year’s growth in XRP addresses can be attributed to the notable ecosystem highlights inked thus far. From the sustained developer efforts on the XRPL to the emergence of new Decentralized Applications (DApps) driving new users, the XRP ecosystem has been evolving constantly.

The growth in total XRP addresses has formed a consistent pattern over time. As once reported by The Crypto Basic, an average of 2,773 XRP addresses were created in a day, showing no redundancy in this crucial metric. 

Addresses on XRP are held by a diverse set of users, including both retail holders and whales. One unique observation, however, is that the whale addresses generally wield more influence on the outlook of XRP overall. This is showcased in the fact that just about five addresses or holders control as much as $7 billion worth of XRP.

These addresses belong to Ripple Labs, Binance, and Uphold, and their ownership of XRP has fueled centralization claims from critics. Ripple CTO David Schwartz has always allayed all fears of centralization, citing the roles of validators within the XRPL as a crucial basis.

XRP Address Growth: Skepticism Abounds

While the historic milestone of digital currency is worth celebrating, some factors make the data questionable.

Responding to the post from The Archer, an alleged XRP holder claims they own as many as five different XRP wallets. Should multiple ownership, which is not uncommon, be factored in, the actual XRP address count for unique users might be significantly lower than presented.