XRP’s Price Surges This Week As Network Witnesses Bubbling Address Activity: Santiment

The XRP Ledger (XRPL) has witnessed a surge in address activity this week, coinciding with a price pump for the crypto asset.

The crypto analytics firm Santiment notes that the XRPL has recently seen a substantial amount of both new addresses created and total addresses interacting on the network, with both metrics hitting their highest levels since March.

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“XRP Ledger is seeing a substantial amount of both new addresses created and total addresses interacting on the network. Both are at their highest levels since March.”

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Source: Santiment/X

Explains the firm,

“There is generally positive movement with an uptick in network activity like this. However, there is often a ‘FOMO effect’ at the initial stages when the spike happens that causes a correction like we are seeing. Now is the test to see if XRP’s activity maintains these levels.”

XRP is trading at $0.574 at time of writing. The 8th-ranked crypto asset by market cap is up nearly 2.5% in the past 24 hours and more than 20% in the past seven days.

In terms of the Ethereum (ETH) rival Solana (SOL), Santiment envisions a bullish short-term future for the asset.

“The Solana faithful have been rewarded for their patience as prices have broken out +33% since the 4th of July. The climb is being fueled by crowd doubt toward SOL. Until (fear of missing out) FOMO replaces the (fear, uncertainty, and doubt) FUD, $200 SOL is very much reachable soon.”

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Source: Santiment/X

SOL is trading at $169.33 at time of writing. The 5th-ranked crypto asset by market cap is up more than 7% in the past day and nearly 22% in the past week.

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