XRP Sees Large Jump in Wallet Activations as Price Eyes $2

According to data provided by XRPScan, the number of XRP wallet activations experienced a tenfold increase over the last three months.

This indicates a strong interest in the Ripple-affiliated token, which experienced a tremendous rally over the past month.

In November, the price of the token soared by 284%, logging its best month since December 2017. The cryptocurrency has vastly outperformed the broader market amid ETF buzz and speculation about a more favorable regulatory environment following the recently announced departure of SEC Chair Gary Gensler.

As reported by U.Today, XRP managed to surpass BNB, the native token of exchange giant Binance, by market capitalization earlier this week.

Given that the price of the largest cryptocurrency has experienced a substantial increase, the leading XRP Ledger explorer has voted to bring the account reserve down to 1 XRP.

“Due to this, we’re voting to bring the account reserve down to 1 XRP and object reserve down to 0.2 XRP,” the account stated.

The base reserve, which is currently set at 10 XRP, is required for activating an account and submitting transactions. This amount cannot be spent by account owners.

Notably, the base reserve tends to get adjusted over time. For instance, following the creation of XRP Ledger, it initially started at 1,000 tokens before being gradually reduced to the current amount.

In the meantime, Ripple conducted another scheduled monthly token unlock, releasing 1 billion tokens.

As reported by U.Today, the total amount of XRP held by the San Francisco-based enterprise blockchain company in its escrow accounts was 38.9 million tokens.

Source