New accounts and potential XRP price

[MrX 77]

Call me "fudster" as much as you want, but here is one of my concerns. 
The number of new accounts created per week - is an important benchmark for XRP. To reach our long awaited $1 point we need an influx of new money (institutional or private). And the number of new accounts was and remains the main evidence that this money are ready to come. 

For some reason Ripple preferred to disable "Accounts Created" charts on their site: https://xrpcharts.ripple.com/#/accounts
But we still have it here: https://bithomp.com/chart

And as you can see, the number of new accounts recently became critically low - 3300 per week. Almost twice lower than the average number of accounts per week in bullish 2017 or even bearish 2018. Why? May be bithomp data is incorrect? I don't know what to think.

[Baka 586]

it's pretty easy to understand , not many new people are investing in Crypto and even less in XRP.

Why ? just watch the market and how people like us are more likely losing money than gaining .

 

Edited August 29, 2019 by Baka

[WuWei 1,318]

It's a direct reflection of market sentiment, which after the "crypto winter" has yet to rebound. As utility gains traction, xrp will distinguish itself from the others and will appreciate in value irrespective of the conditions surrounding the crypt-universe as a whole. It's not much different than my JD tractor: the utility of which, makes it a very valuable asset. And the more use-cases an asset has (via it's attachments: i.e. backhoe, tiller, chipper/shredder, etc, etc, etc.) the more valuable that asset becomes. That's why, amongst the literally thousands of cryptocurrencies out there, xrp stands alone: nothing even comes close. I like to think of my tractor (and xrp) as being like a Swiss Army Knife - it's utility is only limited by the number of attachments (use-cases) that are available for it. The money that I "invested" in its backhoe, has reaped the rewards of its utility that's simply not possible for tractors without one.  With URBI, xSpring, Coil, MoneyGram, Corda, Tenemos, and Polysign all working on the xrp "attachment" ecosystem, it's only a matter of time before xrp becomes the Swiss Army Knife of money transfer. Accordingly, xrp's inherent value will ultimately reflect its utility. It's from this perspective that I base my utmost confidence in xrp succeeding: utility=value. It's really that simple.

[Caracappa 2,293]

It's not new accounts and then suddenly a price rise, but the other way around. Price goes up and suddenly many new accounts are created. Usually with a delay of a few days.

I watched this metric back then when during 11th of december 2017 the price broke the everlasting resistance of 0.30 and took a little over 3 weeks to reach the top. In the days after the 11th more and more accounts were created with the biggest gain towards the end of dec if I recall correctly.

Can't recheck it as indeed xrpcharts doesnt work anymore

But it is a nice statistic! Afterwards...

[Trendkill 2,641]

2 hours ago, Caracappa said:

It's not new accounts and then suddenly a price rise, but the other way around. Price goes up and suddenly many new accounts are created. Usually with a delay of a few days.

I watched this metric back then when during 11th of december 2017 the price broke the everlasting resistance of 0.30 and took a little over 3 weeks to reach the top. In the days after the 11th more and more accounts were created with the biggest gain towards the end of dec if I recall correctly.

Can't recheck it as indeed xrpcharts doesnt work anymore

But it is a nice statistic! Afterwards...

Spot on. It actually wouldn't make any sense at all the other way around.

[Roaring_Twenties 2,473]

4 hours ago, WuWei said:

I like to think of my tractor (and xrp) as being like a Swiss Army Knife - it's utility is only limited by the number of attachments (use-cases) that are available for it.

Great analogy @WuWei. I picked up some more Swiss Army knifelike XRP today at .25 in anticipation of upcoming utility demand. Couldn’t resist.

[Julian_Williams 9,246]

I think Galigtron ( who tracks these figures)  had a explanation for the aberration between 13 May and 30 June

 

[Honeybee 36]

For the last X days, I have been monitoring the number of accounts in the ledger exposed site by WietseWind.  Yesterday, the accounts grew by about 800 new accounts and previous to that was about 400 per day.  

So, at this speed, we are looking at  4-5 days to hit 1.8M accounts and  ~255 days to hit 2M accounts (more or less).

[eXtRaPolate 104]

14 hours ago, WuWei said:

With URBI, xSpring, Coil, MoneyGram, Corda, Tenemos, and Polysign all working on the xrp "attachment" ecosystem, it's only a matter of time before xrp becomes the Swiss Army Knife of money transfer.

Can anyone point out to me which one of these companies is the "toothpick" of the Swiss Army Knife? That was always my favorite part 

[Roaring_Twenties 2,473]

2 hours ago, Honeybee said:

For the last X days, I have been monitoring the number of accounts in the ledger exposed site by WietseWind.  Yesterday, the accounts grew by about 800 new accounts and previous to that was about 400 per day.  

So, at this speed, we are looking at  4-5 days to hit 1.8M accounts and  ~255 days to hit 2M accounts (more or less).

I was observing the recent change to WietseWind’s ledger.exposed site yesterday as well and I like the way he has it broken out even clearer now by amounts of XRP in accounts.

https://ledger.exposed/rich-stats#range

What would be even nicer if possible is to be able to discern which one is an exchange wallet and which one is an individual’s wallet to get a feel for growth in size of the wallet and in growth in the types of wallets.  In fact having a percent change up or down as measured on a monthly basis for wallets would be of interest as well.  

I use his site to see how I’m doing to keep up with the rest of the world and keep trying to claw my way up. I know I’ll never be up towards the top as I would have needed to start way back in 2013 and not in 2017 @ .18 but it’s still a good feeling to see where you are in comparison to the rest of the people on the planet.

This approach of motivation and accumulation for me might not make too much sense today in August 2019 but let’s see if it makes any sense in August 2025. 

[Honeybee 36]

On 8/30/2019 at 7:56 PM, Roaring_Twenties said:

What would be even nicer if possible is to be able to discern which one is an exchange wallet and which one is an individual’s wallet

Click on the blue parts/figures in the table under the "# of Accounts".  It shows some exchanges.

[Spekul8 956]

On 8/29/2019 at 3:50 PM, WuWei said:

It's a direct reflection of market sentiment, which after the "crypto winter" has yet to rebound.

Winter is over. Now it's Ice Age.  I hope we dont get to fossil age. 

[Honeybee 36]

On 8/30/2019 at 4:56 PM, Honeybee said:

For the last X days, I have been monitoring the number of accounts in the ledger exposed site by WietseWind.  Yesterday, the accounts grew by about 800 new accounts and previous to that was about 400 per day.  

So, at this speed, we are looking at  4-5 days to hit 1.8M accounts and  ~255 days to hit 2M accounts (more or less).

        And over 50B now and greater than 1,800,000 accounts.  

[WhtSno 55]

The number of accounts created metric is fanciful, but pretty much means nothing at this stage of evolution.  All major financial brokerage firms have obtained accounts, institutional accounts and early whales already set up and anyone investing early obviously are in as well.  New accounts rates will remain unchanged until another FOMO event but while some view "2M" as a target, the actual number is 1B+.   Wide spread adoption will occur after regulation issues are resolved, until then pretty much nothing.