The Number of Active XRP Addresses Is Increasing

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XRP, which took a break in the uptrend, nevertheless showed a rise in terms of active trading addresses. According to experts who interpret this situation, one of the altcoins showing positive incompatibility is Ripple’s XRP.

Having occupied the 3rd place in the list of most valuable cryptocurrencies for a long time, XRP fell behind Tether in the list with a loss of almost 10% in 7 days and took the 4th place. Although it could not sustain its rally, the rate of increase in addresses that are actively trading XRP did not go unnoticed by analysts.

According to the information published by Santiment, one of the crypto money analysis platforms, on social media, although XRP has decreased by almost 10%, the number of wallets that are actively making XRP transactions is gradually increasing. The number of active wallets that traded XRP yesterday rose to the highest value in 7 days, reaching 9499. Still, this figure is far behind the rates in February. XRP broke its own record with 70 thousand 944 active wallets last February. When the XRP value hit an all-time high of $ 3.11, the number of wallets actively trading XRP was just around 50,000.

According to Santiment, XRP is one of the few altcoins that show positive mismatch. Positive mismatch; It is an expression that explains that a digital currency cannot exhibit the desired performance despite healthy market conditions for its value to increase.

Much Behind ETH and BTC Despite the Increase in Active Address Number

Although the number of active XRP addresses has increased in recent days, the number of active wallets that are considered market leaders Ethererum (ETH) and Bitcoin (BTC) is far behind. So much so that, according to U.Today data, BTC reached the highest level of 2020 with 1 million 120 thousand 216 active daily transactions. This rate is approximately 12,000% higher than XRP active wallets. For ETH, the record number is 523 thousand 470, again overwhelmingly superior to XRP.

According to development expert Matt Hamilton, there are some logical reasons why XRP active wallets are so low compared to the two giant coins. In a statement he made on his social media account, Hamilton touched on the ‘sub-addressing system in Ripple’s own network, saying that transactions made with XRP are more effective than BTC. Since each address of Ripple is numbered within its system, this number is used in XRP transactions.

“So a single XRP address can serve the entire cryptocurrency exchange.”


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