Altcoins

What’s Next For XRP Price ? On-Chain Data has Some Good News For XRP HODLers

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Oct 29, 2021

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For most coins, the start of Q4 has been extremely positive. Although the price of XRP was seen trading in the red in the last 24 hours, it has flipped its downward trend from the previous week. At the time of writing, XRP is trading at $1.06, up 4.17 percent in the last 24 hours and about 11.36 percent for the month of October.

XRP Price to Rise

Santiment, a blockchain analytics business, predicts that the price of XRP Ledger’s native asset (XRP) will rise based on two metrics. 

On Twitter, Santiment claims that an increase in the number of addresses on the XRP Network, as well as an increase in social media mentions, indicate that XRP’s value may climb.

XRP is gaining traction on social media, and our data shows that in the month of October, there was a considerable increase in the number of addresses communicating on the #XRPNetwork. 

Historically, these divergences have always resulted in price increases.According to the blockchain analytics firm, Bitcoin’s (BTC) recent price rise to a new all-time high boosted address activity. 

As address activity now visits over [one million] addresses at a fairly regular rate, it’s a great indication that addresses are continuing to interact with the BTC network on an expectedly regular basis to justify prices.

Bitcoin’s mean dollar invested age declined in the wake of the flagship cryptocurrency’s all-time high, demonstrating that markets “can and will survive,according to Santiment. The measure determines the average age of all Bitcoins based on when they were purchased. 

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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