econintersect.com
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
econintersect.com
No Result
View All Result
Home Economics

XRP’s Explosive Boom Results In Record-Breaking Address Activity

admin by admin
6월 1, 2023
in Economics, Finance
0
XRP Explosive Boom Results In Record-Breaking Address Activity
0
SHARES
0
VIEWS

The XRP Network saw a massive increase in address activity for two successive days, marking a historic milestone, as highlighted by the blockchain analysis platform, Santiment.

The increasing activity in addresses indicates the possibility of an imminent rally for XRP, Ripple’s native crypto, as it has in the past recorded a significant surge after a similar spike in address activity.

Increased Address Activity May Result In A $45% XRP Price Increase

Interestingly, the price of XRP has increased by around 15% in the last seven days, from $0.4434 to $0.5053, which it currently maintains at the time of publication.

The price surge comes in line with the growth in network address Activity. Hence, as Santiment indicates, it is likely that the XRP price could gain 40%, similar to what happened in March when address activity recorded a similar spike.

Notably, there seems to be a small disconnect between XRP and the rest of the cryptos, as XRP’s price is gaining while most other coins are dropping. This might be an indication of a possibly more decisive and persistent trend change.

For now, XRP is in a psychological price zone ($0.50), where the bulls and bears seem to be battling fiercely. Unless the price of this token breaks decisively out of this zone, it is difficult to continue with a strong bullish movement.

Many indicators such as the squeeze momentum indicator, VPVP, moving averages, and ADX indicate continuing a bullish trend on the daily charts, which may push XRP to reach or exceed the past high of $0.6 seen in late March 2023.

Buy Crypto Now

Ripple’s Possible Legal Win May Enhance XRP’s Bullish Momentum

The rapid increase in address activity on the XRP network has happened at a time when most crypto enthusiasts believe that Ripple could emerge victorious in the lawsuit by the U.S. Securities and Exchange Commission (SEC) about the classification of XRP as a security.

Even Brad Garlinghouse, Ripple’s CEO, has given somewhat optimistic signals pointing to the court case being resolved within a few weeks, which might help boost XRP’s price prospects by getting rid of regulatory uncertainties.

Hence, in the near term, and based on multiple indicators, it is possible that XRP will see a strong bullish movement. It might finally manage to arise from the hole created by US regulatory pressure.

Tags: Brad Garlinghousecryptocrypto regulationcryptocurrencyRippleXRPXRP news
Previous Post

What To Consider When Evaluating Low-Code And No-Code Platforms

Next Post

What Are BRC-30 Tokens?

Related Posts

Bitcoin Is Finally Trading Perfectly Like 'Digital Gold'
Economics

Bitcoin Is Finally Trading Perfectly Like ‘Digital Gold’

by admin
Namibia Will Regulate And Not Ban Crypto With New Law
Finance

Namibia Will Regulate And Not Ban Crypto With New Law

by admin
6,746 ETH Valued At $12M Was Just Burned
Economics

6,746 ETH Valued At $12M Was Just Burned

by admin
Bitcoin Is Steady Above $29,000 Awaiting US NFP Figures
Economics

Bitcoin: What Next After Consolidation Ends?

by admin
US Government Offloads Another 8,200 Bitcoin – On-chain Data
Economics

US Government Offloads Another 8,200 Bitcoin – On-chain Data

by admin
Next Post
What Are BRC-30 Tokens?

What Are BRC-30 Tokens?

답글 남기기 응답 취소

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market blockchain BTC BTC price business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

© Copyright 2024 EconIntersect

No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자

© Copyright 2024 EconIntersect