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XRP Ledger Sees Significant Uptick in Activity and Whale Accumulation
The XRP Ledger (XRPL) is currently experiencing heightened network activity, signaling a bullish trend for its native token’s price. Recent xrp news indicates that whale investors are intensifying their accumulation of XRP, with the count of addresses holding over one million coins hitting a 12-year peak.
Whale Holdings and Active Address Surge
In a recent update from the on-chain analytics platform Santiment, the XRP Ledger has shown substantial growth in both usage and interest from key stakeholders. The data highlighted that over 2,700 whale and shark wallets now possess at least 1 million XRP, marking a historic milestone in the cryptocurrency’s 12-year journey.
Moreover, the ledger’s active addresses have soared, averaging over 295,000 daily in the past week—a significant jump from the usual 35,000 to 40,000. This surge aligns with several key developments on the XRPL, enhancing its utility and appeal.
Strategic Developments Boosting Network Utilization
The integration of Circle’s USDC stablecoin and the launch of Ondo Finance’s tokenized US treasury fund (OUSG) on the XRPL have both played crucial roles in boosting network activity. These initiatives are not only increasing the ledger’s transaction volume but are also creating more use cases for XRP, particularly in stablecoin transactions.
Guggenheim’s recent collaboration with Ripple to introduce the first Digital Commercial Paper on the XRPL further underscores the expanding functionalities and institutional interest in this blockchain network.
Experts Anticipate a Price Surge
Amidst this flurry of activity, crypto analyst Javon Marks has projected that the XRP price might climb beyond $4, potentially reaching up to $8. This prediction is based on the current bullish patterns and the significant developments on the XRPL. Another expert, Dark Defender, suggests that XRP could ascend to $6 soon, riding on this wave of positive momentum.
Despite a recent dip below the $2.25 mark, the outlook remains optimistic, with recovery and further gains anticipated if XRP can sustain momentum above critical support levels. At present, XRP is trading around $2.16, reflecting a modest decline over the last 24 hours.
For further details on this evolving story, readers can explore more about cryptocurrencies on [Binance](https://www.binance.com/). Additionally, ongoing updates and analyses are available on [Financier News’s Crypto section](https://financier.news/category/crypto/).
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