3 Key Ripple (XRP) Metrics to Monitor Beyond the Market Value

Ripple’s XRP has gained significant popularity in the cryptocurrency market over the past three years, largely due to the company’s ongoing legal battle with the US Securities and Exchange Commission (SEC). According to a recent report, XRP ranked third in terms of social engagements, following only Bitcoin and Ethereum. While much attention is focused on XRP’s price, there are other important metrics to consider.

One crucial metric to keep in mind is XRP’s rich list, which showcases the top addresses holding the most XRP. Data from xrpscan reveals that the top two addresses are held by Ripple themselves, which is expected. The remaining addresses in the top 10 are primarily exchange addresses, representing the amount of XRP held by users on these platforms. Interestingly, the tenth address holds approximately 650 million XRP and is not labeled on xrpscan.

Another important metric is the number of executed transactions on the XRP ledger. The health and condition of a blockchain network can be deduced from the number of transactions occurring daily. The year-to-date chart for XRP’s executed transactions has shown consistency, with one anomaly occurring on March 19th.

Additionally, the number of payments from one account to another is a significant metric to consider. This chart reflects the actual payments made on the network, indicating how much the network is being utilized for transactions.

It is important to note that these metrics provide valuable insights into the performance and usage of XRP. By analyzing these data points, investors and enthusiasts can gain a better understanding of the cryptocurrency’s potential in the market.

– XRPScan: https://cryptopotato.com/3-critical-ripple-xrp-stats-to-watch-beyond-the-price/(https://xrpscan.com/balances)

Image source: XRPScan

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J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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