XRP Ledger Sees Surge in Active Wallets Amid Ripple’s Legal Battle

According to analytics platform Santiment, XRP Ledger has seen significant growth in active wallets.

Recently, the number of unique wallets participating in at least one transaction per day has grown to 35,799, marking the highest in three months. In addition, the network saw the largest influx of newly created wallets in a single day since March 14.

The reasons for this sudden increase in activity remain unclear.

However , XRP has attracted attention due to the ongoing appeal by the SEC in the Ripple case.

At the time of writing, XRP, the seventh-largest cryptocurrency, is trading for $0.54, reflecting a 1.1% increase over the past 24 hours. Despite the increase in wallet activity, this has yet to result in a significant price increase.

Several major players are driving the majority of activity in the XRP Ledger. Last month, Artur Kiryakulov, CEO of XPMarket, noted that 10 wallets alone account for an impressive 58% of all transactions on the Ledger, with just one wallet responsible for 15%. However, he cautioned that this information should not necessarily be interpreted as evidence of centralization against Ripple, as many of the large wallets are not affiliated with the company.