XRP Transactions and Account Creations Surges In November, Despite Price Declines

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So, the total number of transactions on the $XRP network surges from 43.3 million in October to 53.3 million in November.
Meanwhile, the number of new accounts rises 11.8% to 237,000.

Furthermore, This data is from CryptoCompare’s November 2021 Asset Report. Of course, detailing how XRP network activity increases, despite price dropping 10.2% over the month.

More so, The report reveals how the total transaction fees on the XRP network hits 149% from October to November to $169,000. Of course, which indicates an average transaction fee increasing 108% to $0.32.

Additionally, the network records upward trend in transactions per Ledger, from 1,972 to 2,501 in November.

More so, CryptoCompare’s report confirms there is 518% rise in account deletions, having 39,725 accounts wipes off in November. That’s, when in comparison with 6,431 in October.

According to the cryptoasset data aggregator, XRP holdings are “heavily concentrated amongst addresses with over 100 million XRP,”
. Of course, this is as addresses with 100 million to 1 billion tokens have 42.1% of its total supply.

Where as, Addresses with less than 10,000 XRP control only around 2.82% of the cryptocurrency supply.

Notably, former Goldman Sachs executive Raoul Pal explains why he has XRP, despite the SEC lawsuit. Which of course, he describes it as having “use cases” and a “phenomenal risk/reward ratio.”

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