{"id":551789,"date":"2023-09-18T20:00:09","date_gmt":"2023-09-18T20:00:09","guid":{"rendered":"https:\/\/wncen.com\/?p=551789"},"modified":"2024-06-11T07:56:30","modified_gmt":"2024-06-11T07:56:30","slug":"milestone-bullish-xrp-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/milestone-bullish-xrp-price\/","title":{"rendered":"Incoming Milestone Could Be Very Bullish For XRP Price, Here\u2019s Why"},"content":{"rendered":"

Since Judge Analisa Torres\u2019s 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.<\/p>\n

Accounts On XRP Ledger Near 5 Million Mark<\/h2>\n

In an interesting turn of events, the number of accounts<\/a> that are present on the XRP Ledger has been rising rapidly. This has seen the metric barrel toward the 5 million total accounts milestone as it is currently sitting at an impressive 4,781,844 million accounts, according to data from XPR Ledger Services.<\/p>\n

Related Reading: Ethereum Holesky Testnet Already Seeing Issues, What\u2019s Wrong This Time?<\/a><\/div>\n

The site\u2019s 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.<\/p>\n

\"XRP<\/p>\n

XRPL accounts near 5 million | Source: XRP Ledger Services<\/a><\/pre>\n
Of the 100 billion total XRP supply, 58,682,136,692 (58.6%) are currently sitting in holder accounts, with 41,306,191,412 (41.3%) still held in escrow<\/a>. This amount held in escrow is released periodically and was designed that way to last until the total XRP supply is exhausted.<\/p>\n
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.<\/p>\n
How Will It Affect The XRP Price?<\/h2>\n
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.<\/p>\n
Analysts have also been incredibly bullish on the XRP price. In one instance, a Wells Fargo Manager forecasted<\/a> that the price of the altcoin could rise as high as $500, citing Ripple capturing the cross-border payments sector by 2027.<\/p>\n
Related Reading: Jordan Peterson Sparks Debate On How Bitcoin Can Solve Major Banking Problem<\/a><\/div>\n
Another interesting forecast<\/a> put the XRP price at $10,000, once again, citing Ripple\u2019s rising market share in the payments sector as a driver. A more conservative crypto analyst put the token\u2019s price at $130<\/a> after it formed a rare triangle pattern on its chart.<\/p>\n
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\u2019s 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.<\/p>\n
\"Ripple<\/p>\n
XRP flashes bullish as 5 million account milestone approaches | Source: XRPUSD on Tradingview.com<\/a><\/pre>\n
Featured image from XRP News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Since Judge Analisa Torres\u2019s 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. Accounts On XRP Ledger Near 5 Million Mark In an interesting turn of events, the number of accounts that are present on the XRP Ledger has been rising rapidly. This has seen the metric barrel toward the 5 million total accounts milestone as it is currently sitting at an impressive 4,781,844 million accounts, according to data from XPR Ledger Services. Related Reading: Ethereum Holesky Testnet Already Seeing Issues, What\u2019s Wrong This Time? The site\u2019s 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. XRPL accounts near 5 million | Source: XRP Ledger Services Of the 100 billion total XRP supply, 58,682,136,692 (58.6%) are currently sitting in holder accounts, with 41,306,191,412 (41.3%) still held in escrow. This amount held in escrow is released periodically and was designed that way to last until the total XRP supply is exhausted. 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. How Will It Affect The XRP Price? 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. Analysts have also been incredibly bullish on the XRP price. In one instance, a Wells Fargo Manager forecasted that the price of the altcoin could rise as high as $500, citing Ripple capturing the cross-border payments sector by 2027. Related Reading: Jordan Peterson Sparks Debate On How Bitcoin Can Solve Major Banking Problem Another interesting forecast put the XRP price at $10,000, once again, citing Ripple\u2019s rising market share in the payments sector as a driver. A more conservative crypto analyst put the token\u2019s price at $130 after it formed a rare triangle pattern on its chart. 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\u2019s 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. XRP flashes bullish as 5 million account milestone approaches | Source: XRPUSD on Tradingview.com Featured image from XRP News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":551798,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,17209,4531,84758,83637,13172,16289,88178,89417,10972,78763],"class_list":["post-551789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-ledger","tag-xrp-news","tag-xrp-price","tag-xrp-price-prediction","tag-xrpl","tag-xrpl-news","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nIncoming Milestone Could Be Very Bullish For XRP Price, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"The XRP Ledger is close to another enormous 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Incoming Milestone Could Be Very Bullish For XRP Price, Here\u2019s Why","url":"http:\/\/wncen.com\/news\/ripple\/milestone-bullish-xrp-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/milestone-bullish-xrp-price\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/XRP-price-bull.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/XRP-price-bull.jpeg?fit=640%2C495"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","ripple news","xrp","xrp ledger","xrp news","xrp price","xrp price prediction","xrpl","xrpl news","xrpusd","xrpusdt"],"dateCreated":"2023-09-18T20:00:09Z","datePublished":"2023-09-18T20:00:09Z","dateModified":"2024-06-11T07:56:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Incoming Milestone Could Be Very Bullish For XRP Price, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/milestone-bullish-xrp-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/milestone-bullish-xrp-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/XRP-price-bull.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/XRP-price-bull.jpeg?fit=640%2C495\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"ripple news\",\"xrp\",\"xrp ledger\",\"xrp news\",\"xrp price\",\"xrp price prediction\",\"xrpl\",\"xrpl news\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2023-09-18T20:00:09Z\",\"datePublished\":\"2023-09-18T20:00:09Z\",\"dateModified\":\"2024-06-11T07:56:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/XRP-price-bull.jpeg?fit=640%2C495","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/551789"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=551789"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/551789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/551798"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=551789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=551789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=551789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}