Traded at $1.10 as of our news time, Ripple remains the 6th 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 lawsuit.
According to Santiment data, network activity on Ripple increased by 394% compared to last week. As 6700 new addresses continue to interact on the Ripple network, the size of the rise is also visible in the chart. 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 in Ripple raised expectations for price, an analysis of Ripple came from popular analyst Peter Brandt.
Responding to an investor’s statement, “It’s not too late to jump into your favorite altcoin (XRP) with 1% capital and enjoy the journey,” Brandt shared the XRP chart and said, “There is potential in this chart that is structurally long-term.”
While Brandt’s prospects for XRP are longer-term, the increase in activity in the network signals that we may see a pump wave soon.
*Not Investment Advice.