{"id":554666,"date":"2023-10-09T20:00:24","date_gmt":"2023-10-09T20:00:24","guid":{"rendered":"https:\/\/uniquehot.com\/?p=554666"},"modified":"2024-06-11T08:02:06","modified_gmt":"2024-06-11T08:02:06","slug":"xrp-price-rally-not-over-yet","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple\/xrp-price-rally-not-over-yet\/","title":{"rendered":"These Bullish Factors Prove XRP Price Rally Is Not Over Yet"},"content":{"rendered":"<p class=\"p2\">The XRP price has retraced a good portion of its gains <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/ripple-wins-xrp-price-to-1\/\">following its surge above $0.54 last week<\/a>. Naturally, this could signal that the end is in sight for an <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/attention-xrp-price-predictions\/\">XRP rally<\/a> but this is not necessarily the case when you look at the altcoin\u2019s metrics and performance even amid its price decline.<\/p>\n<h2 class=\"p2\">XRP Daily Transaction Count Remains Above 1 Million<\/h2>\n<p class=\"p2\">The XRP daily transaction count first skyrocketed above 1 million back in July when <a href=\"https:\/\/uniquehot.com\/ripple-2\/ripple-vs-sec-sec-executives\/\">Judge Analisa Torres ruled<\/a> that programmatic <a href=\"https:\/\/uniquehot.com\/news\/when-are-amms-coming-to-xrp-ledger-ripple-cto-gives-clear-answer\/\">XRP sales<\/a> did not constitute investment contracts. The XRP price had rallied more than 60% as a result of this and daily transaction counts shot up as well.<\/p>\n<p class=\"p2\">By the time August rolled around, <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/xrp-daily-transactions-surpass-ethereum\/\">XRP\u2019s daily transaction counts had surpassed that of Bitcoin and Ethereum<\/a>, and the network has not slowed down since. Looking at <a href=\"https:\/\/bitinfocharts.com\/xrp\/\" rel=\"nofollow\">data<\/a> from BitInfoCharts, XRP is still maintaining its more than 1 million transactions per day numbers.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-554675 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-09-at-15.20.01.png?w=460&#038;resize=460%2C199\" alt=\"XRP daily transactions\" width=\"460\" height=\"199\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-09-at-15.20.01.png?w=3456 3456w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-09-at-15.20.01.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-09-at-15.20.01.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-09-at-15.20.01.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-09-at-15.20.01.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-09-at-15.20.01.png?w=2048 2048w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-09-at-15.20.01.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-09-at-15.20.01.png?w=1140 1140w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-09-at-15.20.01.png?w=3000 3000w\" sizes=\"(max-width: 460px) 100vw, 460px\"><\/p>\n<pre style=\"text-align: center\">Daily transaction count remains above 1 million | Source: BitInfoCharts<\/pre>\n<p class=\"p2\">Since the start of October, the altcoin\u2019s daily transaction figures have also come out consistently above that of <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-price-rise-to-22000\/\">Bitcoin<\/a> and <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-futures-numbers\/\">Ethereum<\/a>, showing that interest in the network has not diminished.<\/p>\n<h2 class=\"p2\">XRP Ledger Crosses 83 Million Blocks<\/h2>\n<p class=\"p2\">As transaction counts have been on the high side, block production on the <a href=\"https:\/\/uniquehot.com\/news\/when-are-amms-coming-to-xrp-ledger-ripple-cto-gives-clear-answer\/\">XRP Ledger<\/a> also shows active participation from users. Late last week, the blockchain marked its 83 millionth block.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/39-month-cycle-xrp-price-1000\/\">39-Month Cycle Says XRP Price Is Poised For Breakout To $1,000, Here\u2019s When<\/a><\/div>\n<p class=\"p2\">This was confirmed by the XRPScan account on X (formerly Twitter), coming less than two months after the <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/xrp-ripple-cto-clawback-xrpl\/\">Ledger<\/a> marked its 82 millionth block.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">XRP Ledger successfully closed 83 millionth ledger a few moments ago: <a href=\"https:\/\/t.co\/USQVIHBcmY\" rel=\"nofollow\">https:\/\/t.co\/USQVIHBcmY<\/a> <a href=\"https:\/\/t.co\/HwDv3m2nHb\" rel=\"nofollow\">https:\/\/t.co\/HwDv3m2nHb<\/a> <a href=\"https:\/\/t.co\/wuwTZBMtGx\" rel=\"nofollow\">pic.twitter.com\/wuwTZBMtGx<\/a><\/p>\n<p>\u2014 XRPScan (@xrpscan) <a href=\"https:\/\/twitter.com\/xrpscan\/status\/97393747?ref_src=twsrc%5Etfw\" rel=\"nofollow\">October 5, 2023<\/a><\/p><\/blockquote>\n<p class=\"p2\">The <a href=\"https:\/\/xrpscan.com\/\" rel=\"nofollow\">rapid rise in usage<\/a> is shown by the over 46,000 payments already made in the current block at the time of writing. Additionally, there have been 392,000 transactions and rising, with an average Transaction Per Second (TPS) of 20 TPS.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/0O0gN5Vy\/\" alt=\"XRP price chart from Tradingview.com\" width=\"2804\" height=\"1746\"><\/p>\n<pre style=\"text-align: center\">XRP sees rocky start to the new week | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">XRPUSD on Tradingview.com<\/a><\/pre>\n<h3 class=\"p2\">Daily Trading Volume Jumps 56%<\/h3>\n<p class=\"p2\">Another major factor that could point to the XRP price rally not being over is the jump in daily trade volume. Between Sunday and Monday, the <a href=\"https:\/\/uniquehot.com\/binance\/binance-immense-xrp-holdings-exposed-in-detailed-proof-of-reserves-report\/\">XRP daily trading volume<\/a> rose more than 56% to reach approximately $480 million. This follows a jump above $500 million previously before the cool-down.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/crypto-analyst-xrp-deflationary\/\">Crypto Analyst Presents Data To Prove That XRP Is Deflationary<\/a><\/div>\n<p class=\"p2\">Just like other factors listed above, the jump in trading volume suggests rising interest. Given that the XRP price has not been in free fall, it could point to the volume being skewed more toward buying rather than selling. In such a case, a rally is more likely to ensue.<\/p>\n<h3 class=\"p2\">XRP Price Rally Could Continue<\/h3>\n<p class=\"p2\">Despite the XRP price falling to bearish pressure over the last few days, it could quickly recover as metrics continue to flash bullish. As one crypto analyst points out, the XRP price is <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/39-month-cycle-xrp-price-1000\/\">reaching the point in its 39-month cycle<\/a> where it could bounce toward another rally. For the top of this rally, the analyst puts the price at $1,000.<\/p>\n<p class=\"p2\">Currently, the <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/pro-xrp-lawyer-sec-ripple\/\">XRP<\/a> price is sitting at $0.5141, registering a 1.49% loss in the last 24 hours.<\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Crypto News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The XRP price has retraced a good portion of its gains following its surge above $0.54 last week. Naturally, this could signal that the end is in sight for an XRP rally but this is not necessarily the case when you look at the altcoin\u2019s metrics and performance even amid its price decline. XRP Daily Transaction Count Remains Above 1 Million The XRP daily transaction count first skyrocketed above 1 million back in July when Judge Analisa Torres ruled that programmatic XRP sales did not constitute investment contracts. The XRP price had rallied more than 60% as a result of this and daily transaction counts shot up as well. By the time August rolled around, XRP\u2019s daily transaction counts had surpassed that of Bitcoin and Ethereum, and the network has not slowed down since. Looking at data from BitInfoCharts, XRP is still maintaining its more than 1 million transactions per day numbers. Daily transaction count remains above 1 million | Source: BitInfoCharts Since the start of October, the altcoin\u2019s daily transaction figures have also come out consistently above that of Bitcoin and Ethereum, showing that interest in the network has not diminished. XRP Ledger Crosses 83 Million Blocks As transaction counts have been on the high side, block production on the XRP Ledger also shows active participation from users. Late last week, the blockchain marked its 83 millionth block. Related Reading: 39-Month Cycle Says XRP Price Is Poised For Breakout To $1,000, Here\u2019s When This was confirmed by the XRPScan account on X (formerly Twitter), coming less than two months after the Ledger marked its 82 millionth block. XRP Ledger successfully closed 83 millionth ledger a few moments ago: https:\/\/t.co\/USQVIHBcmY https:\/\/t.co\/HwDv3m2nHb pic.twitter.com\/wuwTZBMtGx \u2014 XRPScan (@xrpscan) October 5, 2023 The rapid rise in usage is shown by the over 46,000 payments already made in the current block at the time of writing. Additionally, there have been 392,000 transactions and rising, with an average Transaction Per Second (TPS) of 20 TPS. XRP sees rocky start to the new week | Source: XRPUSD on Tradingview.com Daily Trading Volume Jumps 56% Another major factor that could point to the XRP price rally not being over is the jump in daily trade volume. Between Sunday and Monday, the XRP daily trading volume rose more than 56% to reach approximately $480 million. This follows a jump above $500 million previously before the cool-down. Related Reading: Crypto Analyst Presents Data To Prove That XRP Is Deflationary Just like other factors listed above, the jump in trading volume suggests rising interest. Given that the XRP price has not been in free fall, it could point to the volume being skewed more toward buying rather than selling. In such a case, a rally is more likely to ensue. XRP Price Rally Could Continue Despite the XRP price falling to bearish pressure over the last few days, it could quickly recover as metrics continue to flash bullish. As one crypto analyst points out, the XRP price is reaching the point in its 39-month cycle where it could bounce toward another rally. For the top of this rally, the analyst puts the price at $1,000. Currently, the XRP price is sitting at $0.5141, registering a 1.49% loss in the last 24 hours. Featured image from Crypto News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":554678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,17209,4531,83637,87387,13172,88627,10972,78763],"class_list":["post-554666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-news","tag-xrp-performance","tag-xrp-price","tag-xrp-rally","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n<title>These Bullish Factors Prove XRP Price Rally Is Not Over Yet<\/title>\n<meta name=\"description\" content=\"The XRP price has retraced a good portion of its gains following its surge above $0.54 last week which could signal that the end is in sight.\" \/>\n<meta name=\"robots\" content=\"index, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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