The Number of Active Addresses in the Ripple Network Exceeded 4.3 Million! What’s the Latest in XRP?

Cryptocurrency There is a bear season in the markets. While crypto prices are falling, the general belief is that investors are leaving the market. However, some data point to the opposite situation.

in your wallet Ripple (XRP) According to new data, the number of crypto wallets holding cryptocurrencies has exceeded 4.3 million. Messari’s According to data, exactly 301 of the 4.3 million addresses are in possession of more than $10 million. XRP holding. The number of wallets in which the value of XRPs is more than $ 1 million is 823.

Messari also announced that the number of addresses actively trading on the XRP network is on the rise. According to the company, 66,900 XRP addresses were active in the last 24 hours. This data shows that network activity is 29% higher than in the previous month.

What’s the Latest in XRP? Is Ascension Income?

The increase in network activity on the XRP network did not have any effect on the price. After the rally towards the summer of 2021, we cannot say that Ripple made its investor very happy.

XRP also suffered from the declines in the general crypto market. XRP has been trading in the $0.39-0.29 range in recent weeks. In order for a new rally in XRP to be experienced, the bear season in the crypto markets must first end.

The fate of the crypto market depends on the macroeconomic conditions in the world. Economists expect tight monetary policies around the world to continue until mid-2024.

But if we just take a look at the daily chart:

• To be able to talk about the start of a rally, XRP needs to stay above the $0.55-0.58 resistance area.
• In order to reach this target, the $0.37-0.39 resistance area must be crossed first.
• However, if the daily closes are below the $0.30 level, the selling may go deeper.