In a recent blog post, XRP provides an update on the total number of active addresses. It shows that the network saw a significant increase in activity over this past year and has been responsible for more transactions than any other crypto-currency since February 2018 alone!
The “xrp news” is a cryptocurrency that has seen a significant increase in active addresses. The XRP network saw an increase of over 10,000 new addresses on the day of April 4th.
Ripple prices rose in 2021, while they had not yet reached the late-2017 highs that distinguished this digital asset apart from others. For example, the price of Ethereum has continued to increase to new all-time highs, a feat that XRP has yet to match.
XRP’s price increases happened later, in early 2021, than most other cryptos, when the US Securities and Exchange Commission began a legal case against Ripple in November 2020. As a consequence of the legal action, the price of XRP dropped from approximately 0.70 USD to around 0.20 USD.
XRP is expected to rise.
Based on two indicators, Santiment, a blockchain analytics firm, believes that the value of XRP will climb. Santiment argues on Twitter that an increase in the number of addresses on the XRP Network, as well as an increase in social media mentions, suggest that the value of XRP might rise.
$XRP is gaining traction on social media, and our data reveals that in the month of October, there was a considerable increase in the number of addresses communicating on the #XRPNetwork. Historically, these divergences have always resulted in price increases. https://t.co/eUFQhF1IEm pic.twitter.com/Oh1rAogOgo
October 26, 2021 — Santiment (@santimentfeed)
XRP is gaining momentum on social media, with a significant rise in the number of addresses conversing on the #XRPNetwork in October. In the past, price hikes have often followed comparable divergences.
XRP is the seventh most valuable cryptocurrency, with a price of $1.07, up 4.45 percent from its previous high. The coin has a market value of $50,262,758,970 with a trading volume of $5,648,087,696 in the past 24 hours.
Bitcoin’s recent price climb to a new all-time high, according to the blockchain analytics firm, spurred address activity. It’s a positive indicator that addresses are still engaging with the BTC network on a frequent enough level to maintain pricing since address activity is still hanging around [one million] addresses on a fairly regular basis.
According to Santiment, the mean dollar invested age of Bitcoin fell after the flagship cryptocurrency’s all-time high, indicating that markets “can and will endure.” The average age of all Bitcoins is calculated depending on when they were acquired.
In most past bull runs, a protracted decline in mean dollar age is a strong predictor that markets may and will thrive when previously inactive addresses ultimately begin to circulate large amounts of tokens.
The “ripple court” is a term that refers to the United States District Court for the Southern District of New York. The court has heard a case against Ripple Labs, Inc., which is a company that created and operates the ripple cryptocurrency.
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