Ripple’s XRP is all set to make a strong comeback. Recent data shows a large increase in supply chain activity, even with regulatory challenges. According to Cheeky Cryptos new YouTube video is one of the key indicators of XRP’s growing strength the proliferation of wallets holding significant amounts of XRP. Over the past year, wallets holding more than 1,000 XRP are up 29.15%.
Portfolios holding more than 10,000 XRP have seen a remarkable 32.34% increase over the same period. Wallets with more than 100,000 XRP are up 17.18%, and even wallets with more than 1 million XRP are up 12%. These statistics indicate a growing interest in and investment in XRP from both retail and institutional investors.
The XRP Ledger continues to experience high levels of blockchain activity. The average number of active addresses over 30 days is 497,130,000, with a small decrease in the last 24 hours. The average number of active addresses over a 60-day period is 719,470,000, maintaining their activity. The 90-day average of active addresses is 1,370,000.
2,629 XRPL assets have been issued to date, demonstrating the versatility of the platform. Daily net XRPL trust lines created are 1,026, indicating active user participation. The network has witnessed about 35,500 transactions in recent times, further indicating an engaged community.
These positive numbers are consistent with Ripple’s ongoing legal battle with the SEC. Specifically, the court ruled that XRP is not a security, which means a partial victory for the company. Despite the legal challenges, the strong on-chain business and development activity bodes well for XRP’s future.
Judge Torres ruled that XRP does not meet the Howey Test criteria for an investment contract, dispelling doubts about its security rating. This legal win was a big win for Ripple and the crypto industry, clarifying the status of XRP. As a result, major exchanges like Coinbase have relisted XRP, sending the price skyrocketing.
