The post Ripple News: XRP’s On-Chain Activity Soars Despite Regulatory Clashes appeared first on Coinpedia Fintech News
Ripple’s XRP is all set to make a strong comeback. Recent data shows a big increase in its on-chain activity, even with regulatory challenges. According to Cheeky Crypto’s new YouTube video, one of the key indicators of XRP’s growing strength is the increase in the number of wallets holding significant amounts of XRP. Over the last year, wallets holding more than 1,000 XRP have increased by 29.15%.
Wallets with over 10,000 XRP have seen a remarkable rise of 32.34% during the same period. Wallets with over 100,000 XRP have grown by 17.18%, and even wallets with over 1 million XRP have increased by 12%. These statistics suggest growing interest and investment in XRP from both retail and institutional investors.
The XRP Ledger continues to experience high levels of blockchain activity. The 30-day average active addresses amount to 497,130,000, with a minor decrease in the past 24 hours. The 60-day average active addresses stand at 719,470,000, maintaining their activity. The 90-day average of active addresses reaches 1,370,000.
To date, there have been 2,629 XRPL assets issued, showcasing the platform’s versatility. Daily net XRPL trust lines created are at 1,026, suggesting active user participation. The network has witnessed around 35,500 transactions in recent times, further showing an engaged community.
These positive metrics align with Ripple’s ongoing legal battle with the SEC. Notably, the court ruled that XRP is not a security, marking a partial win for the company. Despite the legal challenges, the strong on-chain activity and development activity bode well for XRP’s future.
Judge Torres ruled that XRP doesn’t fit the Howey Test criteria for an investment contract, settling doubts about its security classification. This legal victory was a big win for Ripple and the crypto industry, clarifying XRP’s status. Consequently, major exchanges like Coinbase relisted XRP, causing its price to soar.
