XRP Addresses Hit Record 6.87 Million as Network Growth Surges
The number of unique XRP addresses has surpassed 6.87 million, marking a new all-time high even as the cryptocurrency’s price remains below its peak. On-chain data from Glassnode, first reported by analyst Ali Martinez, shows that XRP’s network continues to expand, signaling strong user interest despite market fluctuations.
As of March 14, data from XRP Scan confirms that the total number of XRP Ledger accounts has reached 6,274,058, up from around 5 million at the start of 2024. This rapid growth reflects increasing engagement with XRP, as more users and institutions interact with the network. Additionally, the number of trustlines—a feature that facilitates seamless asset transfers on the XRP Ledger—has also risen. This expansion strengthens XRP’s appeal for cross-border transactions, decentralized finance, and broader blockchain applications.
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Key Takeaways
- XRP just hit a record 6.87 million unique addresses, proving the network is growing even if the price isn’t at its peak.
- A massive surge in active XRP users suggests rising interest, but big investors are staying quiet—for now.
- With the SEC case nearing its end and rumors of a U.S. government XRP buy, things could get really interesting for Ripple.
Surging Network Activity, But Whales Stay on the Sidelines
Beyond the rise in unique addresses, XRP has seen an explosion in active users. On March 5, Martinez highlighted a staggering 620% increase in active XRP addresses within a single week. The number of active addresses jumped from 74,589 to 462,650, indicating a major uptick in on-chain activity. This surge suggests that both retail and institutional players are increasingly using the network, possibly in anticipation of major developments.
Despite these bullish indicators, large XRP holders—often referred to as whales—have remained relatively quiet in recent weeks. On-chain data suggests that there have been no major buy or sell moves from these influential players. This could mean that whales are accumulating XRP without making abrupt transactions or waiting for a key catalyst before making their next move. Their inactivity may reflect caution as they assess broader market conditions and regulatory developments.
Steady Going Amid Market Developments
At the time of writing, XRP is trading at $2.31, showing a modest 2.1% increase over the past 24 hours. While the price remains well below its all-time high, network fundamentals continue to strengthen. The combination of a growing user base, declining exchange reserves, and steady accumulation suggests that demand for XRP remains intact.
For investors, the current market setup is creating a mixed outlook. On one hand, the rise in addresses and active participation points to increased adoption, which could be a long-term bullish sign. On the other hand, the lack of whale activity in the past week indicates a wait-and-see approach from major market participants. This suggests that while there is optimism, some investors may be holding off until clearer signals emerge.
Ripple’s Legal Battle and Potential Government Interest in XRP
One of the biggest factors influencing XRP’s future is the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). According to crypto journalist Eleanor Terrett, the lawsuit is approaching its final phase, with reports suggesting that a settlement could be reached soon. If Ripple and the SEC agree on a settlement, it could remove a major regulatory hurdle for XRP and potentially open the door for wider institutional adoption.
Adding to the speculation, the U.S. government has outlined new plans to acquire digital assets as part of its evolving financial strategy. A recent White House statement mentioned that the government could obtain cryptocurrencies through penalties imposed by regulatory agencies. If any portion of these funds is used to acquire XRP, it would mark a historic moment—making XRP the first altcoin officially held by the U.S. government. This development could boost confidence in XRP’s long-term viability and attract further institutional interest.
Ripple’s IPO and the Future of XRP
Beyond regulatory matters, Ripple’s long-rumored plans for an initial public offering (IPO) could also shape XRP’s future. If the SEC case reaches a resolution, Ripple may move forward with its IPO, potentially sparking another rally in XRP’s price. Analysts believe that a combination of legal clarity, increased institutional involvement, and an IPO could drive XRP to new highs. Some forecasts suggest that under the right conditions, XRP could reach $10, pushing its market capitalization beyond $580 billion and making it one of the largest cryptocurrencies in circulation.
Conclusion
XRP’s network is growing at an unprecedented pace, with millions of new addresses and a surge in active participation. However, whale activity remains subdued, signaling a phase of consolidation before the next major price movement. The outcome of Ripple’s legal battle with the SEC and the U.S. government’s potential involvement in digital assets could significantly impact XRP’s future. If regulatory clarity improves and institutional adoption continues we might see an end to XRP’s struggle finally.
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