By cryptoadmin As volatility continues in the cryptocurrency market, data from the $XRP Ledger network has caught the attention of investors. On-chain analytics platform Santiment reported that the number of wallets on the $XRP network has reached an all-time high, with a significant increase in new user participation.
According to data shared by Santiment, the number of wallets with a balance greater than zero on the $XRP Ledger network has reached a new all-time high of 8.24 million. It was noted that this steady increase in wallet numbers continues despite the fluctuations in the $XRP price in recent months.
The acceleration of network growth during the period when $XRP was trading at approximately $1.36 was also noteworthy. According to Santiment data, 4,772 new wallets were created in a single day. This figure marks the fifth largest daily increase recorded since March.
Analysts believe the acceleration in new wallet creation activity could signal a renewed surge in interest in the $XRP ecosystem. However, Santiment stated that for growth on the network to support bullish expectations, price movements must also confirm this trend.
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$XRP Price at $1.40 Critical: Two Different Scenarios
Santiment stated that the first important level to watch for the $XRP price in the short term is $1.40.
According to the platform, a rapid return to the $1.50 level could become possible if $XRP maintains a sustained move above $1.40 and the number of new daily wallets remains around or above 4,000.
However, in a negative scenario, if $XRP loses the $1.30 support level and daily new wallet creation falls below approximately 3,000, it could indicate that the positive signals from increased adoption on the network are weakening in the short term.
*This is not investment advice.