A popular XRP influencer, Lewis Jackson, has recently announced a significant upswing in the creation of $XRP accounts, saying that the e number of accounts associated with the XRP token exceeded 3.2 million by July 25, 2023. With daily averages suggesting an influx of around 1,166 new accounts, the numbers suggest significant interest for the native token of the XRP Ledger.
However, many in the cryptocurrency community question the veracity of these figures, suggesting that the seemingly impressive figures could be skewed due to multi-wallet holders—individuals who hold XRP alongside other digital assets across numerous wallets—which could artificially inflate the perceived growth of XRP accounts.
Empirical evidence from a number of sources, including XRP Ledger scanner XRPScan, appears to suggest that the actual figure is approximately 4.72 million, with account creations frequently topping 1,000 a day and often doubling that figure.
Cryptocurrency analusts have been turning bullish on the cryptocurrency over the last few weeks, with one analyst recently suggesting it could rise to a staggering price point between $25 and $30 in the next cryptocurrency bull run.
Some in the cryptocurrency community voiced skepticism about the prediction, pointing out that such a surge would push the market cap well into the trillion-dollar territory. They suggested a more restrained outlook of $5 to $8 as a feasible price range, a target price that other analysts have also pointed to.
Notably, a number of bold price predictions for XRP have been made since the cryptocurrency was deemed to not necessarily be a security by a federal judge. Institutional investors have also moved in on the cryptocurrency, as XRP investment products saw major inflows this month.
According to CCData’s latest Digital Asset Management Review report products focusing on XRP saw a 33.2% rise in inflows, taking their assets under management to $65.7 million.
As CryptoGlobe reported, the number of XRP holders with at least one million tokens on the cryptocurrency’s ledger has now surpassed the 1,900 mark as an accumulation trend set off earlier this month was triggered by an uptick in investor sentiment.
Featured image via Pixabay.
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