XRP Surpasses 60 Billion Tokens Held in Accounts: A Major Milestone

Ripple’s XRP continues to demonstrate significant growth and adoption, with a recent milestone highlighting its increasing popularity.

XRP Adoption on the Rise

According to XRPL Services, the total amount of XRP tokens held in accounts has surpassed the impressive figure of 60 billion. This represents a substantial increase from the 5 million account mark achieved earlier in 2024.

It’s important to note that this figure encompasses all XRP tokens stored in wallets, including those held by Ripple Labs (outside of escrow), institutions, and individual investors. While the current circulating supply stands at slightly over 56 billion, the maximum supply is capped at 100 billion.

Ripple’s structured XRP release from escrow, with a monthly cap of 1 billion tokens, has been predictable, minimizing market impact. Despite the regular influx of new XRP, the coin’s price has remained relatively stable.

Price Performance and Future Outlook

XRP experienced a significant price surge following the recent court ruling in the Ripple v. SEC case. The token rallied by 20%, reaching nearly $0.64 before retracing to its current level of around $0.57.

While the price has pulled back, many analysts remain bullish on XRP’s prospects. Some experts predict a potential surge towards the $2 mark if the token manages to surpass its 200-day weighted moving average. Others highlight $0.66 as a crucial resistance level, with a potential price pump expected after breaking through this barrier.

The recent milestone of 60 billion XRP held in accounts underscores the growing confidence in the cryptocurrency and its underlying technology. As the legal landscape continues to evolve, XRP’s price performance is likely to be influenced by a combination of market sentiment, regulatory developments, and overall adoption rates.