XRP briefly bounced back in the charts after a dip to the $2.2 range on Wednesday. Its price topped $2.38 in the day’s session, rewarding investors who bought the dip. The returns were quick despite fear gripping the cryptocurrency market. The surge comes after the XRP Ledger experienced a major surge in new wallets.
The XRP Ledger recorded 21,595 new wallets in just 48 hours, according to the latest data from Santiment. This is the highest level of surge recorded in the last eight months. At one point, Ripple’s native token surged nearly 12% in the day’s session before cooling down. The development indicates that the Ripple’s native token can be down, but will remain ‘not out’ in the charts.
“XRP’s price has bounced back, and users who bought the dip have enjoyed a nice +12% jump in the past 24 hours. Notably, XRPL data indicates there were 21,595 new wallets created in a 48-hour span in the past couple of days, the highest level of growth in 8 months,” wrote Santiment.
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Arguments on XRP and XRPL Grow Louder
A lot of chatter is doing the rounds on social media about using XRP or XRPL to drive the message of blockchain technology forward. While cryptocurrency insiders clearly know the difference, new and first-time investors find it confusing. The community aims to promote XRP more, as that’s where the real money is.
Even Ripple’s CEO, Brad Garlinghouse, weighed in on the conversation and agreed that using XRP and not XRPL could be the right way forward, even if it is not technically correct. “I agree, on XRP sounds better” than on XRPL, exclaimed Garlinghouse.
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Many other users agreed that “on XRP” sounds way better than “on XRPL,” despite it being a separate ledger network. Garlinghouse had previously revealed that XRP remains “at the center” of everything that Ripple does.