In the cryptocurrency world, Ripple is one of the most followed cryptocurrencies. Moreover, it has a passionate community. In this sense, it has its own characteristics. Most of the time, it comes to my mind with price dynamics. But XRP’s price isn’t the only thing to keep a close eye on. It is necessary to look at other dynamics as well.
Ripple XRP is an important dynamic
Ripple XRP has been one of the most popular cryptocurrencies for the last three years. And much of that is likely due to the significance of the company’s lawsuit against the U.S. Securities and Exchange Commission. In fact, as cryptokoin.com recently reported, the cryptocurrency ranked very high on a list that tracks the performance of various cryptocurrencies in terms of social interactions.
Ripple XRP ranked third, behind only Bitcoin and Ethereum. Most of the attention has been directed towards the price of XRP. But there are other important metrics to keep track of. It is a matter of curiosity how XRP will perform in the next bull market. With that out of the way, let’s take a look at some of the most important on-chain metrics to keep in mind.
Rich list of Ripple XRP
XRP’s rich list shows the addresses holding the most XRP. Data obtained from Xrpscan reveals that numbers one and two are held by Ripple. Accordingly, this is an expected situation. All other exchanges in the top 10 (except one) are exchange addresses.
These represent the number of Ripple XRP its users hold on their platform. However, number 10 has approximately 650 million XRP and is untagged on xrpscan.
Number of transactions performed
The second important criterion to consider is the number of transactions performed. At their core, all blockchain networks are designed to process transactions. Additionally, their health and current condition can be inferred from the number of these transactions occurring daily.
The year-to-date chart for the number of transactions carried out on Ripple XRP’s ledger is quite consistent. Accordingly, an anomaly occurred on March 19.
Number of payments made from one account to another
The transaction does not necessarily mean making a payment from one address to another. It could also be a number of other things. However, the actual payments made are undoubtedly among the most important criteria.
This particular chart shows the number of payments made from one account to another. These may be internal. But that doesn’t matter much. What’s important is that the chart reflects how much the network is used for payments. All these metrics point to a positive situation for Ripple XRP. Let’s see if Ripple will make impressive gains in the next rally period.
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