XRP Active Addresses Spike, is a XRP Price Jump Incoming?

Godfrey Benjamin
June 26, 2023
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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With mixed reactions in the market, many digital currencies are beginning to flash unique signals that can help solidify their inherent potential to soar.

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XRP Performance Metrics

XRP is likely on its way to make history as data from crypto analytics service provider Santiment showed that the protocol has recorded a consistent growth in the past few days. Sharing the observation on Twitter, crypto analysts @ali_charts noted that the past three instances in which XRP price saw a parabolic run, it has been preceded by a surge in active addresses.

Making the permutations at this time, the confirmed spike in network activity as affirmed by Santiment might imply new capital is about to flow into the XRP ecosystem which will translate to a bullish resurgence for the coin.

At the time of writing, XRP price is now trading at $0.4833, down by 1.41% over the past 24 hours. The cryptocurrency’s bearish outlook in the short term can be tagged the ripple effect of the ongoing reversal in the price of Bitcoin (BTC). Nonetheless, XRP price has seen a generally positive growth surge over the past week and in the Year-to-Date (YTD) period.

Should the speculation about imminent price surge hold true, we might see the token breach the resistance point at the $0.5 level in no distant time.

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XRP Price Soars as Bulls Remains Positive

Every cryptocurrency has its community but some are stronger than others. XRP boasts of one of the most vibrant communities around with bulls who remain loyal despite the ongoing lawsuit between the United States Securities and Exchange Commission (SEC) and its associated blockchain payments firm, Ripple Labs Inc over the status of the coin as touching whether it is a security or not.

Through the darkest era for the coin as the lawsuit approaches its final months, the XRP bulls have maintained their bag and are now capitalizing on new innovations bordering on the XRP Ledger (XRPL) and the plans to introduce smart contracts into the protocol.

In the YTD period, XRP price has printed a 41.07% growth, a showcase of it being beaten but not battered.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.