{"id":649898,"date":"2024-10-26T11:30:22","date_gmt":"2024-10-26T11:30:22","guid":{"rendered":"https:\/\/uniquehot.com\/?p=649898"},"modified":"2024-10-25T19:50:19","modified_gmt":"2024-10-25T19:50:19","slug":"xrp-active-addresses-hits-6-month-peak-could-a-market-shift-be-coming","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/xrp\/xrp-active-addresses-hits-6-month-peak-could-a-market-shift-be-coming\/","title":{"rendered":"XRP Active Addresses Hits 6-Month Peak\u2014Could A Market Shift Be Coming?"},"content":{"rendered":"

XRP has recently witnessed a surge in blockchain activity, marked by a significant rise in the number of active sending addresses, according to latest data<\/a>.<\/p>\n

This increase in active addresses comes amid the asset’s continuous struggle<\/a> to register any significant rally in price. Instead, the altcoin has steadily decline now down by over 10% in its 30-day performance.<\/p>\n

Related Reading: XRP Price Faces Ongoing Struggles: Will a Turnaround Happen?<\/a><\/div>\n

XRP Active Addresses Hits 6-Month Peak<\/h2>\n

According to a CryptoQuant analyst known as “maartunn,” the daily active sending addresses on XRP’s blockchain have reached a six-month high, with roughly 12,230 number of addresses transacting<\/a> daily.<\/p>\n

\"XRP
XRP active addresses. | Source: CryptoQuant<\/figcaption><\/figure>\n

maartunn highlighted that this resurgence in active addresses indicates a potential return of investor interest in XRP and possibly in the broader cryptocurrency market. Additionally, the increase in activity is seen as a positive development<\/a> for the XRP blockchain.<\/p>\n

The CryptoQuant analyst suggested that rising user participation not only boosts XRP\u2019s value as a blockchain asset but also enhances its appeal to investors.<\/p>\n

\n

XRP: Active Sending Addresses reaches a 6-month high<\/p>\n

\u201cThe number of Active Sending Addresses on XRP reaches 12,230 on a daily basis… The increase signals that activity is returning to the XRP Blockchain.\u201d \u2013 By @JA_Maartun<\/a><\/p>\n

Link \ud83d\udc47https:\/\/t.co\/8ejsxFt5wO<\/a> pic.twitter.com\/VnYPrHXjJb<\/a><\/p>\n

\u2014 CryptoQuant.com (@cryptoquant_com) October 25, 2024<\/a><\/p><\/blockquote>\n

The analyst also noted that active usage of a blockchain is essential for its long-term viability, adding that an uptick in transaction activity typically reflects increasing interest.<\/p>\n

However, despite all these positivity the increase in active addresses indicates, the CryptoQuant analyst cautioned<\/a> that it remains to be seen whether this recent momentum in active addresses can be maintained.<\/p>\n

Against The Backdrop Of Legal Developments<\/h2>\n

The surge in active sending addresses comes at a time when the altcoin is seeing some notable developments in its ongoing legal battles. Recently, XRP scored a significant legal victory when a court filing confirmed that XRP is not considered a security.<\/p>\n

This ruling marked a major turning point in the long-standing legal dispute between Ripple Labs and the United States Securities and Exchange Commission (SEC).<\/p>\n

\"XRP
XRP price is moving upwards on the 2-hour chart. Source: XRP\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

For years, Ripple has been embroiled in a case with the SEC, which argued that XRP should be classified as a security and therefore be subject to specific regulatory requirements. The recent decision has provided a new level of clarity for the altcoin, boosting confidence in the asset<\/a> among market participants.<\/p>\n

Related Reading: XRP Price Aims to Recover: Can It Reverse the Downtrend?<\/a><\/div>\n

In another recent legal development, Ripple Labs filed a Form C in the United States Court of Appeals for the Second Circuit. The filing challenges a recent SEC ruling, aiming to establish a legal foundation that could prevent future regulatory conflicts over XRP\u2019s classification.<\/p>\n

\n

Today, Ripple filed a Form C – listing the issues we plan to raise on our cross appeal. A few things to keep in mind as we move forward:<\/p>\n

The case is not about whether XRP, in and of itself, is a security. XRP is uniquely situated as having clarity (alongside BTC) in not being\u2026 https:\/\/t.co\/AmFocAnbPx<\/a><\/p>\n

\u2014 Stuart Alderoty (@s_alderoty) October 25, 2024<\/a><\/p><\/blockquote>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

XRP has recently witnessed a surge in blockchain activity, marked by a significant rise in the number of active sending addresses, according to latest data. This increase in active addresses comes amid the asset’s continuous struggle to register any significant rally in price. Instead, the altcoin has steadily decline now down by over 10% in its 30-day performance. Related Reading: XRP Price Faces Ongoing Struggles: Will a Turnaround Happen? XRP Active Addresses Hits 6-Month Peak According to a CryptoQuant analyst known as “maartunn,” the daily active sending addresses on XRP’s blockchain have reached a six-month high, with roughly 12,230 number of addresses transacting daily. maartunn highlighted that this resurgence in active addresses indicates a potential return of investor interest in XRP and possibly in the broader cryptocurrency market. Additionally, the increase in activity is seen as a positive development for the XRP blockchain. The CryptoQuant analyst suggested that rising user participation not only boosts XRP\u2019s value as a blockchain asset but also enhances its appeal to investors. XRP: Active Sending Addresses reaches a 6-month high \u201cThe number of Active Sending Addresses on XRP reaches 12,230 on a daily basis… The increase signals that activity is returning to the XRP Blockchain.\u201d \u2013 By @JA_Maartun Link \ud83d\udc47https:\/\/t.co\/8ejsxFt5wO pic.twitter.com\/VnYPrHXjJb \u2014 CryptoQuant.com (@cryptoquant_com) October 25, 2024 The analyst also noted that active usage of a blockchain is essential for its long-term viability, adding that an uptick in transaction activity typically reflects increasing interest. However, despite all these positivity the increase in active addresses indicates, the CryptoQuant analyst cautioned that it remains to be seen whether this recent momentum in active addresses can be maintained. Against The Backdrop Of Legal Developments The surge in active sending addresses comes at a time when the altcoin is seeing some notable developments in its ongoing legal battles. Recently, XRP scored a significant legal victory when a court filing confirmed that XRP is not considered a security. This ruling marked a major turning point in the long-standing legal dispute between Ripple Labs and the United States Securities and Exchange Commission (SEC). For years, Ripple has been embroiled in a case with the SEC, which argued that XRP should be classified as a security and therefore be subject to specific regulatory requirements. The recent decision has provided a new level of clarity for the altcoin, boosting confidence in the asset among market participants. Related Reading: XRP Price Aims to Recover: Can It Reverse the Downtrend? In another recent legal development, Ripple Labs filed a Form C in the United States Court of Appeals for the Second Circuit. The filing challenges a recent SEC ruling, aiming to establish a legal foundation that could prevent future regulatory conflicts over XRP\u2019s classification. Today, Ripple filed a Form C – listing the issues we plan to raise on our cross appeal. A few things to keep in mind as we move forward: The case is not about whether XRP, in and of itself, is a security. XRP is uniquely situated as having clarity (alongside BTC) in not being\u2026 https:\/\/t.co\/AmFocAnbPx \u2014 Stuart Alderoty (@s_alderoty) October 25, 2024 Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":649902,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83363],"tags":[134,10923,83531,4531,93243,78763],"class_list":["post-649898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp","tag-altcoin","tag-crypto-market","tag-cryptoquant","tag-xrp","tag-xrp-market","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP Active Addresses Hits 6-Month Peak\u2014Could A Market Shift Be Coming?<\/title>\n<meta name=\"description\" content=\"XRP has recently witnessed a surge in blockchain activity, marked by a significant rise in 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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