XRP Network Surges: Historic Two-Day Address Activity Breaks Records

Key Points:

• XRP experiences historic address activity over two consecutive days, indicating possible upswing if it follows similar trend to March 18 surge.
• XRP’s mild decoupling from altcoin pack suggests it might be gearing up for more decisive breakout.
• SEC lawsuit resolution could provide boost to XRP’s prospects, clearing uncertainties and leading to increased adoption.

According to blockchain analytics platform Santiment, the XRP network has recently experienced two of the highest spikes in address activity in its history over two consecutive days.

This indicates a mild 4% decoupling from the rest of the altcoin market, which might signal a possible upswing for XRP if it follows a similar trend to the activity surge it experienced on March 18. It’s worth noting that XRP’s price appreciated significantly in the weeks following the address activity surge in March.

As of today, XRP sits at $0.502306, up 4.2% on the day, and exhibiting a strong 7.8% growth on the week. The mild decoupling and the consecutive days of heightened address activity suggest that XRP might be gearing up for a more decisive breakout, as its behavior diverges from the broader crypto market trends.

It’s interesting to compare XRP’s recent performance to that of Bitcoin and Ethereum, the two largest cryptocurrencies by market cap. Both have seen relatively flat or negative movements over the past week. In light of these historical address activity spikes, Ripple and XRP have been the subject of increased attention. This is particularly noteworthy given that Ripple has been embroiled in a high-profile lawsuit with the US Securities and Exchange Commission (SEC) over the classification of XRP as a security. However, Ripple’s CEO Brad Garlinghouse recently hinted that the case could be resolved within weeks. This positive outlook might have sparked some of the increased network activity.

If the SEC lawsuit is resolved in Ripple’s favor, it could provide a much-needed boost to XRP’s prospects. This would clear uncertainties about its regulatory status and potentially lead to increased adoption. In turn, this could fuel XRP’s growth and help it outpace other cryptocurrencies in the market.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

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