Number of Wallets Peaks as XRP Receives 1 Billion Boost Following Elon Musks Mention

A single mention of billionaire Elon Musk
XRP
triggered a significant increase in both the activity and price of XRP. In his statement, Musk emphasized that it was neither an endorsement nor the lack of an endorsement related to XRP.
Yesterday, October 20, the tech mogul hosted a public rally to support Republican presidential candidate Donald Trump in Pittsburgh, Pennsylvania. The announcement about Ripple’s native token came during the event. XRP price quickly reacted with a 3,44% gain following Musk’s mention of the token.
XRP was mentioned by Musk during the Q&A portion of the event. An attendee
questioned
to the billionaire whether the ledger would eventually be adopted by financial institutions. In his response, Musk noted that cryptocurrencies, in general, are an “interesting and probably valuable bulwark against centralized control.”
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Also at the time, the Tesla CEO clarified in his statement that his response was neither an endorsement nor a lack of endorsement of the XRP token.
While it wasn’t a direct endorsement of the cryptocurrency, markets apparently interpreted Musk’s statement as a strong endorsement of XRP. In addition to the price surge, the token saw its market cap soar from $30,6 billion to $31,6 billion in 24 hours.
Number of wallets reaches peak
Cryptocurrency analytics platform Santiment
observed
that XRP has recently peaked in terms of its number of active wallets and new wallets being created. The analysis was published on October 20.
“The XRP Ledger saw a significant spike in active wallets, reaching 35.799 unique wallets making at least one transfer in a single day, the highest number in over 3 months. Additionally, 3.858 new wallets were created in a single day, the highest amount in over 7 months!” it noted.


Source: Santiment
At the time of publication, the price of XRP is trading at $0,5482, up 1.8% over the past 24 hours. Currently, XRP (XRP) trading volume is at $1.467.123.978 over the past 24 hours, representing a 130,70% increase from a day ago and signaling a recent surge in market activity.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Tags:
Elon Musk
XRP