The XRP Ledger (XRPL), a decentralized blockchain network processing XRP transactions, is witnessing an unprecedented surge in user activity.
44,206 new XRP wallets have been created this week between Monday, November 3, and Wednesday, November 5, according to data Finbold reviewed from on-chain and market data analytics platform CryptoQuant.
During this time the total Ledger count surged past the 100 million milestone, a 6.83 million increase since January 6, signaling steady market engagement and possible accumulation among users this year.
Historically, bursts in wallet creation have often preceded significant price movements for XRP. As this week’s growth has reached the highest levels in eight months, per market intelligence platform Santiment, traders are carefully watching how the crypto might react in the following days.
XRP Ledger activity peaks
Santiment data also showed that the XRP Ledger recorded between 1.3 million and 1.9 million daily transactions in the period between October 6 and November 6 this year.
The activity peaked around November 3, when approximately 1.9 million transactions were processed within 24 hours.
Another catalyst came in the shape of a new partnership between Ripple and Mastercard, which is set to strengthen XRP’s credibility and drive institutional confidence.
Each time Mastercard or WebBank processes a transaction using RLUSD, it will settle directly on the Ledger, fueling on-chain activity even further and increasing demand for the token.
Ripple’s RLUSD stablecoin already exceeds $1 billion in circulation, and because it operates on XRPL, its growth directly enhances network liquidity and transaction throughput.
The partnership could also add more steam to Ripple Payments, encouraging new businesses to integrate the technology into their own systems, potentially solidifying the Ledger’s position in global finance.
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Source: https://finbold.com/xrp-ledger-count-hits-100-million-milestone/