With mixed reactions in the market, many digital currencies are beginning to flash unique signals that can help solidify their inherent potential to soar.
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 saw a parabolic run in price has been preceded by a surge in active addresses.
The last three instances $XRP price jumped were preceded by a spike in the number of active #XRP addresses.
On-chain data from @santimentfeed has recorded a spike in network activity over the past few days. Could history repeat itself? pic.twitter.com/XoJAFsDuvo
— Ali (@ali_charts) June 26, 2023
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 is changing hands at a price of $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 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.
XRP 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 has printed a 41.07% growth, a showcase of it being beaten but not battered.
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