XRP Ledger Activity Spikes as Ripple’s SEC Fight Continues

• 35,799 unique wallets made at least one transfer in a single day on XRP Ledger.
• 3,858 new wallets were created in a single day, Santiment data confirmed.
• XRP is eyeing the $0.55 price level and is trading $0.54.

The XRP Ledger has seen a surge in activity as American fintech firm Ripple’s fight against the United States Securities and Exchange Commission (SEC) goes on. According to blockchain analysis firm Santiment, the number of active wallets on XRPL has spiked, showing that use of the blockchain is growing.

In a Monday post on X, Santiment said that over 35,799 unique wallets made at least one transfer in a single day, the highest number in three months. Also, 3,858 new wallets were created in a single day, the highest amount in over 7 months.

Read also: Ripple Explores Partnership With Ex-PayPal CFO, XRP Price Eyes $1

This surge in activity suggests that both the digital asset sector and institutions are paying close attention to XRP Ledger. MetaMask, one of the largest self-custody crypto wallet companies, also supports XRP Ledger, according to an October 21 announcement.

A new tool called XRPL Snap was also announced. This powerful tool connects MetaMask and XRPL. The tool improves user experiences “from managing your XRP to interacting with XRP Ledger dApps.” The integration with MetaMask could be a major reason for this surge in activity on XRPL.

Ripple vs. The SEC

The SEC appealed its lawsuit against Ripple. Ripple’s CLO Stuart Alderoty explained that the U.S. Court of Appeals for the Second Circuit might uphold or even expand the original ruling by Judge Analisa Torres. The initial ruling said that the XRP token is not a security when sold to retail investors.

Meanwhile, according to CoinMarketCap data, XRP is trading at a price tag of $0.544, down 0.44% in the past 24 hours. The altcoin’s trading volume jumped 42.56% to $1.23 billion, but the digital asset has tumbled 9.07% over the past 30 days.