Xumm Wallet Active Users Surge to 34K as XRP Targets $0.50. This surge in daily active users marked a 21% increase in just 6 hours.
Xumm Wallet, a prominent self-custody wallet built for the XRP Ledger (XRPL), has seen a massive surge in usage, as unique daily active users recently skyrocketed to 34,480 for the first time since January. The surge in active users comes amid XRP’s latest rally, with which the asset is looking to reclaim the $0.50 price.
Wietse Wind, Xumm developer and founder of XRPL Labs, recently called public attention to the favorable development as he shared a graphic sensor of the change in daily active users. The image reveals a 21% increase in unique daily active users from 12:00 to 18:00 yesterday, as these users skyrocketed from a little above 28,500 to 34,480 within the time frame.
Welcome back, unique daily active @XummWallet users ? pic.twitter.com/zogqMNP83B
— WietseWind – ? XUMM @ XRPL Labs (@WietseWind) March 21, 2023
The last time Xumm saw up to 34,480 unique daily active users was late January when XRP was struggling to reclaim a high of $0.43. Despite the rapid surge in users, this figure is still way below the one-year peak of 66,956 observed last April.
Here's a year: pic.twitter.com/vYaAXYuGdH
— WietseWind – ? XUMM @ XRPL Labs (@WietseWind) March 22, 2023
The bullish development comes nine days after XRPL Labs released the first major update for Xumm Wallet in seven months. As previously reported, the update came with major improvements in NFT functionality, security, and inter-currency transactions.
Correlation with XRP Price
It is not coincidental that the increase in Xumm’s active users has come when XRP is seeing a colossal jump in its price action. As disclosed by Wind in a separate tweet, an uptick in XRP’s price has always resulted in a surge in the unique daily active users of Xumm Wallet.
Price up, active users up.
— WietseWind – ? XUMM @ XRPL Labs (@WietseWind) March 21, 2023
The persistent pattern suggests that more investors are becoming interested in XRP, as they look to leverage the asset’s uptrend, leading to a surge in demand. These investors turn to Xumm Wallet, the most prominent self-custodial wallet for XRP, which increases active users.
Meanwhile, XRP, which was left behind in the previous market-wide rally, is now looking to reclaim the 4-month high of $0.50 in its solo rally. The asset is trading for $0.4601, up 20.87% in the past 24 hours. The last time XRP saw this price level was last November.
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