Ripple (XRP) Achieves a Major Milestone: Details

TL;DR

• Ripple’s XRP has seen a notable increase in the number of its wallets, surpassing a specific milestone.
• This achievement aligns with a rise in the overall number of executed XRP transactions since the beginning of the current year.
• Ripple faces significant legal challenges in the upcoming months, with major trials scheduled and partial court victories already secured last year.

Ripple (XRP) Surpasses an Important Milestone

Ripple’s XRP has recently reached a major achievement in terms of address count. According to rich-list, the number of XRP wallets exceeded  the 5 million mark after a significant uptrend throughout 2023. Recall that the figure stood at approximately 4 million at the start of last year.

The development signals a growing user base and wider adoption of the asset, which might fuel additional investor confidence.

Surpassing the aforementioned milestone coincides with an overall rise in executed XRP transactions as of late. The figure has stood at well above 5 million since the start of the new year.

2024 Could be a Pivotal Year for Ripple

The aforementioned milestone is just the beginning of a series of upcoming developments for Ripple this year. The company’s most important event in the following months is arguably associated with the lawsuit against the United Securities and Exchange Commission (SEC).

The lengthy legal battle has its grand trial scheduled for April 23. Currently, Ripple seemingly has the upper hand, securing  three vital (yet partial) court victories last year.

The firm is also involved in another lawsuit, known as Zakinov v Ripple Labs. Its trial has been postponed numerous times in the past several years and is expected to start on April 15, 2024. A motion hearing that aims to approve the form and manner of class notice is set  for January 11.

The Zakinov v Ripple Labs case shares similarities with the SEC lawsuit since both plaintiffs accused Ripple of selling XRP as an unregistered security.