Trading at $ 1.10 as of our news moment, Ripple is still the sixth largest cryptocurrency with a market capitalization of $ 51 billion.
Ripple, which has gained 2% in the last 24 hours, continues to maintain its presence in the market in the shadow of the SEC’s demand.
According to Santiment data, network activity at Ripple increased 394% compared to last week. As 6,700 new addresses continue to interact on the Ripple network, the size of the increase is also visible on the graph. When we look at the previous movements, we observe that the increase in the number of active addresses was followed by the price increase.
While network activity on Ripple raised price expectations, an analysis of Ripple came from popular analyst Peter Brandt.
Responding to an investor’s statement, “It is not too late to jump into your favorite altcoin (XRP) with 1% equity and enjoy the ride,” Brandt shared the XRP chart and said: “There is potential in this chart that is structurally long. term. “
While Brandt’s outlook for XRP is longer term, increased activity on the net indicates that we may see a wave of pumping soon.
* No investment advice.