The total number of XRP wallets has recently surpassed 4.8 million, driven by Ripple's recent court victories against the United States Securities and Exchange Commission (SEC). The number of XRP wallets was gradually rising even during the prolonged bear market in 2022 and despite the uncertainty in the lawsuit with the regulator.

Ripple and its XRP token gained significant attention following a key court win in July, when a federal judge ruled that XRP's sales did not constitute an offer of investment contracts, triggering a price rally for the asset. To celebrate that success, Ripple threw a massive party in New York City last week, gathering some of its keenest supporters. Despite speculation, Ripple did not announce an IPO or settlement with the SEC at the event.