A discernible pattern has emerged in the daily active addresses of the native token of the $XRP Ledger, XRP, suggesting that a significant price surge may be on the horizon. This pattern has been observed multiple times, resulting in notable price spikes.
Despite its inability to capitalize on the recent market rally and stabilize above the $0.50 mark, XRP has indicated that it could be gearing up for a substantial price increase.
Renowned cryptocurrency analyst Ali Martinez recently delved into XRP’s daily active addresses using data from Santiment. His analysis reveals that the last three price pumps experienced by XRP were preceded by significant spikes in the token’s address activity.
Based on the shared data, it was observed that XRP witnessed a considerable surge in daily active addresses on January 6, 7, and 11 while trading just above the $0.3 mark. A substantial surge immediately followed these spikes in daily address activity in XRP’s value.
Moreover, this year’s most noteworthy pump occurred in March, following a significant rise in active addresses. On March 20, the number of active addresses skyrocketed to 872,000. In the ensuing days, XRP recorded a staggering 48% increase in value.
As Ali points out, XRP has recently maintained a daily active address count above 130,000. This trend, in line with its historical pattern, suggests that a price surge could be imminent.
Crypto Rover, a prominent Bitcoin advocate and influential figure in the crypto space, recently surprised the community by revealing his belief that $XRP is a “must hold for the next bull run.” He disclosed that he has personally invested $250,000 in cryptocurrency over the past few weeks.
This announcement signifies a departure from Crypto Rover’s usual focus on Bitcoin, shedding light on his newfound interest in the alternative cryptocurrency market. The influencer expressed optimism regarding Ripple’s ongoing legal battle and speculated that a favorable outcome could trigger a widespread ‘Fear of Missing Out’ (FOMO) phenomenon. This belief likely plays a crucial role in the Bitcoin maximalist’s unexpected advocacy for XRP.
As XRP displays a familiar pattern in its daily active addresses and garners support from influential figures like Crypto Rover, market participants eagerly watch for signs of an imminent price pump. With its historical track record and promising indicators, XRP’s future could be poised for an exciting and lucrative rally.
