Data from Cryptoquant shows that there were over 9,000 new XRP addresses on June 11th and June 12th. This is the highest 2-day increase on the network in more than a week.
On June 11 alone, approximately 4,500 new addresses were created. The next day, another 4,200 were added. These figures indicate an increase in participation across the XRP ecosystem.
Cryptoquant data clarify this trend. Wallet creation began to rise sharply on June 9th. Before that, there were less than 3,500 new addresses each day. The latest leap shows the background gaining momentum.
The increasing new addresses can be interpreted as potential indicators of future liquidity or volatility by traders. For long-term investors, increasing numbers of wallets still show that there is more room for adoption. It also shows the increase in popularity of XRP.
This makes this data valuable to those who are ahead of the market rather than following it.
XRP networks grow even more
The underlying use cases for XRP’s rapid payments and cross-border transactions remain its important strength, and the increase in wallet creation is proof. It also allows more users to try and incorporate XRP for multiple purposes or incorporate it into their applications.
The differences are shown compared to the beginning of June. On June 6th, the new address was about 3,200. By June 8th, it was slightly higher. After that, activities increased sharply from June 9th, and accelerated to June 11th and 12th.
Price trends during this spike were down slightly from flat. That fork is worth paying attention. It may indicate accumulation of users ahead of price movements.
XRP’s network is expanding and despite prices not rising, they do so. At the time of writing, XRP is trading at $2.13, down 2.52% over the past day, as revealed by CoinmarketCap data.
Prices have been kept to a minimum, but XRP trading volume has increased by 66.30% to $4.533 billion, bringing increased interest in trading between traders.
The 24-hour trading volume as a percentage of market capitalization is 3.6%, indicating that there is positive liquidity among those coming and going to the position.
