Will XRP Price Surge as Ripple Address Activity Spikes?

Santiment, a blockchain intelligence firm, shared in a tweet that there have been significant surges in address activity on the Ripple (XRP) network. Over the past two days, the network experienced its second and third largest spikes in address activity ever recorded, as highlighted in the tweet. As a result of this surge in address activity, the price of XRP rose and decoupled from the rest of the altcoin market, which experienced losses during this period. Santiment's tweet also pointed out an activity spike on March 18 of this year. Interestingly, the spike in network activity on March 18 was followed by a notable 45% increase in XRP's price over the subsequent 10 days.

Based on this historical pattern, the blockchain intelligence firm speculated that XRP might continue to outperform the rest of the altcoin market in the coming weeks. Currently, XRP is trading slightly above the key resistance level of $0.50, standing at $0.5008 according to CoinMarketCap. In the past 24 hours, the altcoin recorded a gain of 4.26% in price. This recent price increase adds to XRP's positive weekly performance, which currently stands at 8.15%. Notably, XRP not only showed strength against the dollar but also outperformed the two leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), in the last 24 hours. It registered a 4.87% gain against BTC and a 4.25% gain against ETH. XRP's price also remained closer to its 24-hour high of $0.5037 rather than its daily low of $0.4779.\

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