The 6th largest cryptocurrency by total market value, XRP, has gained 7% in the last 7 days and managed to see above $ 1.12.
This success of the XRP price came at a point where other altcoins fell hard and Bitcoin crushed them. So what happened after XRP kept its silence for months, suddenly caught such a jump?
How Did XRP Rise?
U.S. Securities and Exchange Commission (SEC) with Ripple Investors’ trust was the factor that made XRP move, which kept its state of uncertainty due to the litigation between the parties.
This week, the number of active addresses on the XRP network hit a record 85,000 unique addresses, hitting an all-time high. Compared to last year, this data appears to have increased by 836%, which indicates that the XRP network is used more than ever before compared to last year.
Some of the reasons behind this increase may be Ripple’s agreements with leading partners.
Ripple has recently signed a partnership with QNB Group and announced that the bank will assist the Qatar-based payments corridor.
Before that, Ripple signed a partnership with the Central Bank of Bhutan. It was emphasized that the Central Bank will use the XRP network with Ripple technology for its own digital currency.
All this predictably increases the attention on XRP and makes more use of the XRP network.