Due to a long-standing unresolved lawsuit, XRP remains one of the biggest uncertainties in the cryptocurrency world, causing excitement among investors with recent developments. This week, there has been a noticeable increase in address activities on the XRP Ledger (XRPL), coinciding with a rise in XRP prices.
XRP News
Santiment, a significant company in the cryptocurrency world, revealed that the number of new addresses created from scratch and the total number of addresses currently transacting on the network have both increased significantly, reaching periodic peaks since March.
XRP Ledger is seeing a significant amount of both newly created addresses and total addresses interacting on the network. Both metrics are at their highest levels since March.
The company made another statement as follows:
When there is such an increase in network activities, it usually results in a positive movement. However, during the initial stages of a sudden rise, a ‘FOMO effect’ is often seen, leading to a correction as we have observed. Now, we will test to see if XRP’s activities maintain these levels.
As of the time of writing, the strong rise in XRP continues at full speed. After a 8.63% price increase in the last 24 hours, XRP continues to trade around the $0.60 region.
During this period, XRP’s market cap surpassed the $33 billion level again, while a 11% decrease in trading volume to $2.19 billion indicates a slight decline in interest.
Solana Comments
Santiment, which has also made statements about Solana (SOL), long referred to as a rival and even a killer of Ethereum (ETH), indicated that a short-term rise in the altcoin could occur.
Believers in Solana have been rewarded for their patience as prices have increased by +33% since July 4th. The climb is fueled by the crowd’s skepticism towards SOL. Until FOMO (fear of missing out) replaces FUD (fear, uncertainty, and doubt), $200 SOL could be reached very soon.
As of the time of writing, SOL continues to find buyers at the $169.19 level. SOL, which maintains its 5th position in terms of market value and is increasingly approaching BNB, saw a 3.57% price increase in the last 24 hours. Weekly reviews showed this to be 21.73%.
