With <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bulls</a> and <a href="https://finbold.com/guide/bear-market-definition/" rel="noopener noreferrer nofollow">bears</a> still struggling for dominance in the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency market</a>, the <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">XRP token</a> has been no different, but certain on-chain indicators are currently favoring bullish sentiment for the asset, particularly the historical spikes in activity.Specifically, a spike in the number of active <a href="https://finbold.com/guide/how-to-buy-ripple-xrp/" rel="noopener noreferrer nofollow">XRP</a> addresses has preceded the previous three instances in which the price of the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> has jumped, according to the <a href="https://finbold.com/guide/best-crypto-data-websites/#Santiment" rel="noopener noreferrer nofollow">Santiment</a> data and <a href="https://finbold.com/guide/chart-patterns/" rel="noopener noreferrer nofollow">chart patterns</a> shared in a <a href="https://twitter.com/ali_charts/status/1673323727868809217" rel="noopener noreferrer nofollow">tweet</a> by <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> analyst Ali Martinez on June 26.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/4dcbaf578da5458ea626dc4938a4aef3.jpg" />XRP daily active addresses. Source: <a href="https://twitter.com/ali_charts/status/1673323727868809217" rel="noopener noreferrer nofollow">Ali Martinez</a>As Martinez pointed out, data from the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> market intelligence platform has recorded a spike in network activity of <a href="https://finbold.com/topic/xrp/" rel="noopener noreferrer nofollow">XRP addresses</a> over the past few days, indicating that history could repeat itself this time around as well.<h2 id="header-0">XRP price analysis</h2>As things stand, XRP is currently changing hands at the price of $0.4794, indicating a decline of 1.12% in the last 24 hours and a 1.23% drop across the previous seven days but still a 1.37% gain over the past month, according to the latest charts retrieved on June 27.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ea0d08aa645a41659eb53db6da28ba0a.png" />XRP 7-day price chart. Source: <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">Finbold</a>On June 18, pseudonymous crypto analyst Mags a.k.a. thescalpingpro, observed that XRP had “one of the cleanest setups so far” and that its “next stop would be $0.68 and higher” provided it managed to break past the critical <a href="https://finbold.com/guide/support-and-resistance/" rel="noopener noreferrer nofollow">resistance</a> level of $0.55.Meanwhile, the final outcome of the ongoing <a href="https://finbold.com/ripple-v-sec-case-update-as-of-june-26-2023/" rel="noopener noreferrer nofollow">legal standoff</a> between the United States Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>) and the <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a> company <a href="https://finbold.com/topic/ripple/" rel="noopener noreferrer nofollow">Ripple</a> could ultimately have an effect on the price of XRP, considering that the crypto asset is at the center of this case.It is also worth mentioning that Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) supporter Max Keiser is pessimistic about XRP’s future, having suggested that the SEC would eventually succeed in <a href="https://finbold.com/bitcoin-expert-its-a-matter-of-when-not-if-xrp-ponzi-gets-cut-down-by-sec/" rel="noopener noreferrer nofollow">bringing down the token</a>, which he referred to as a “<a href="https://finbold.com/guide/bernie-madoff-ponzi-scheme/" rel="noopener noreferrer nofollow">Ponzi scheme</a>,” and that the case “<a href="https://finbold.com/ripple-cant-win-against-sec-as-xrp-is-marked-for-death-says-expert/" rel="noopener noreferrer nofollow">was never about the law</a>,” as Finbold reported.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com.</a>

Active XRP addresses surge hinting at imminent price breakout

Table of Contents

Finbold

Autres articles publiés le 27 juin 2023

$6.8 Billion Bitcoin and Ethereum Options Expire! How Will The BTC Price Be Affected?

Dormant Whales Grab ARB Before It Soars: 'They Must Have Known Something' Analysts Claim

CEO Henry Chang’s WONDER Staking participation

Binance Australia Cut Off from Banking System, Leaving 1 Million Customers Impacted

Judge rejects SBF’s motions to dismiss criminal charges, citing lack of merit

Three Reasons Why Blur Is up 25%

Join our free newsletter for daily crypto updates!