Since Judge Analisa Torres’s ruling back in July that programmatic XRP sales do not qualify as securities, the token has been on an upward trajectory in terms of growth. This time around, the XRP Ledger is close to another enormous milestone, which could spell good news for the XRP price going forward.
The site’s data also shows other impressive metrics about the blockchain such as only 1,116 accounts on the Ledger are carrying a 0 balance. This means that only 0.023% of the entire XRP holder base on the ledger is carrying a 0 balance.
Going further, a significant number of XRP tokens are also sitting as reserves (tokens in wallets that cannot be spent). The current Total Account Reserves came in at 47,818,440 and Total Owner Reserves is sitting at 13,608,012.
The rapid rise in the number of accounts on the XRP Ledger points to an increase in interest from crypto investors. In this case, as interest rises, so will demand for the XRP token, which would, in turn, lead to a rise in the XRP price.
Despite these very bullish predictions, the XRP price continues to struggle at this point. It is still trading well below the $0.5 resistance which has become the important level to beat. At the time of writing, it’s sitting at $0.49, recording meager gains of 0.03% on the daily chart. Although there is a more significant 5.52% gain on the weekly chart.
