Payments company Ripple and its native token XRP have been consistently making headlines lately thanks to back-to-back developments. For example; The developments in his ongoing lawsuit against the US Securities and Exchange Commission are a topic that investors are following with interest.
Leaving aside the litigation situation, a significant milestone has been reached in the Ripple ecosystem recently. Queens from XRP Ledger Service revealed that the number of account holders on the platform has exceeded 4.5 million. At press time, the exact number is 4,506,950.
Basically, XRP Ledger [XRPL]is a decentralized, public blockchain that supports payment transfers. The increase in the number of account holders marks the entry of new participants into the ecosystem.
XRP Trends on Social Platforms
Altcoin-related interactions have increased recently. With the developments that follow each other almost every day, the shares about altcoin on social media platforms have increased. On Thursday, #XRP trended on Twitter.
The increase in social mentions could be an indication that XRP is being watched closely by market participants. In fact, data from LunarCrush confirmed the same thing:
“We are noticing rising XRP social activity today. The daily measured XRP social mentions reached 57.46k, the highest point in the last 90 days.”
Additionally, the number of active XRP addresses has increased from 44k to 47.9k, indicating that more market participants have recently started to participate in XRP-related transactions, which is another positive takeaway.
Meanwhile, on a daily basis, the altcoin price appeared to be reacting to it. The seventh-largest crypto-asset, which is slowly trying to pull itself out of its bearish atmosphere, is up 1% daily and is trading at $0.35 at press time. Therefore, if current conditions continue or get better, a 10% rally to move the 50 EMA to $0.3870 can be expected in the next few days. Koinfinans.com As we reported, if this level is brought under control, it will eventually open the way to $0.4 and $0.43 for the altcoin. If the buying momentum does not increase, a drop to $0.34 and $0.31 can be expected.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.