Ripple (XRP) Network Experiencing Unusual Activity Spikes – Here’s Why

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Bitcoinsistemi2024/10/21 22:33

By:Mete Demiralp

Some unusual data has been observed recently on the XRP Ledger, the blockchain network on which Ripple (XRP), one of the most popular cryptocurrencies, operates.

According to an analysis published by crypto analytics firm Santiment, the number of active wallets on the XRP Ledger has seen a major jump recently. The data shows that 35,799 unique cryptocurrency wallets on the network have made at least one transaction in a day, the highest number in the last three months.

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In addition, and even more interestingly, 3,858 new cryptocurrency wallets were created on the XRP Ledger in one day, reaching the highest level in the last seven months.

The fact that these two data points jumped one day apart raised questions about whether a new wave of increased activity was coming on the XRP network.

Recently, the SEC appealed Judge Torres’ decision in the Ripple case, and Ripple announced that it would file a cross-appeal in the case. The reason for the increase in activity may be the expected new developments in the case.

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Cryptopolitan•2024/11/28 12:33