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XRP Wallets Have Been Growing at Parabolic Rate Recently, Data Shows
According to Santiment’s chart, the total number of holders for these four assets has seen a significant increase over the past two years. The growth in XRP wallets is particularly noteworthy, as it has skyrocketed since October 18th and shows no signs of slowing down.
The rapid adoption of XRP, which has seen a massive 28% increase in the total amount of holders during this period, stands out compared to other assets like Bitcoin, Ethereum, and Tether. While all these assets have seen a steady growth, XRP’s rate of adoption is far more aggressive, indicating that it may be gaining traction with investors at an unprecedented pace.
Interestingly, this sharp increase in the total amount of holders preceded any significant price gains by the asset, which further underscores the notion that the rise in the number of wallets is not solely driven by speculation. It appears that there are real-world applications or utility-driven use cases driving the adoption of XRP and its associated blockchain technology.
The data suggests that XRP’s growth rate is unsustainable in the long term, but it does suggest that its price may be primed for a significant run-up as more investors join the network.
Source: bitcoinist.com
