According to crypto analytics platform Santiment, XRP, the cryptocurrency linked to blockchain company Ripple, has experienced a huge 22% price increase over the previous 19 days, making it the top rising asset in the crypto world.
The historically large address activity increases being seen by the sixth-ranked crypto currency point to potential unusual price behaviour in the near future.
Leading cryptocurrency trader DonAlt, as reported by U.Today, has fueled rumours that XRP may soon reach the $1 level, a price level not seen since November 2021.
Unprecedented spikes in address activity that were seen over a two-day period have given the cryptocurrency some optimism. This occurs as XRP makes an effort to separate itself from the larger crypto community.
The ongoing high-profile case between Ripple and the SEC about the designation of XRP as a security has hampered the progress of XRP. The long-term future of the XRP coin is now in doubt due to this protracted legal struggle. Despite this, Ripple’s Brad Garlinghouse recently made suggestions that the frosty stalemate would begin to melt in the coming weeks.
A pro-XRP attorney, John Deaton, has reinforced the idea that the price of XRP might rise significantly if the SEC action is successful.
Despite the present optimism, it’s important to keep in mind that XRP is still down more than 80% from its record high, which was reached back in January 2018.
