XRP Gains Popularity Among Retail Investors, Overtaking Bitcoin in Wallet Transactions.

The number of daily active addresses for XRP has increased by 228.34% since reaching 27.203, with almost 227.20% of its market cap growth attributed to new investors. However, these investors are beginning to experience a decline in profits, and the lasting viability of XRP’s recent surge in popularity remains uncertain amid ongoing market fluctuations. Glassnode, a prominent digital asset analytics company, has published its latest newsletter providing an in-depth look at the current trends within the cryptocurrency space. The company emphasizes the differing routes taken by institutional and retail investors, examining the impact each has on the market. Glassnode notes that although Bitcoin investors are experiencing significant losses, a different trend is unfolding within retail-driven areas of the market. There is a growing demand from institutions for U.S. spot ETFs, with Bitcoin ETFs recently seeing $282 million in net inflows, according to CNF. Additionally, Ripple (XRP) has gained traction and is becoming more popular with retail investors. Moreover, asset management firms like Bitwise, Franklin Templeton, 300Shares, WisdomTree, and Canary Capital have increasingly focused on XRP in relation to their ETF applications for the asset. Glassnode points out that the rising interest in XRP may reflect a significant trend in speculative demand across the wider cryptocurrency market. After the 2022 cycle low, the quarterly average of daily active addresses for XRP has increased by 490%, whereas Bitcoin has only seen a 10% rise. This clear difference indicates that retail interest has been drawn to XRP, reflecting the speculative interest within the cryptocurrency market. A Unique Path for Bitcoin and XRP. Although Bitcoin and XRP have both seen comparable increases, climbing about 5 to 6 times from their lowest points, the trajectories they took have been distinctly different.