XRP, the token associated with blockchain behemoth Ripple, has recently been basking in the limelight as the most trending asset in the cryptocurrency landscape
XRP, the cryptocurrency associated with blockchain firm Ripple, is currently the top trending asset in the crypto space after experiencing a significant 22% price surge over the past 19 days, according to crypto analytics platform Santiment.
The 6th ranked crypto asset is witnessing historically high address activity surges, suggesting that the crypto’s price might be gearing up for a unique behavior in the foreseeable future.
As reported by U.Today, leading crypto trader DonAlt has sparked speculation that XRP could soon hit the $1 mark, a price level unseen since November 2021.
Unprecedented surges in address activity observed over a two-day streak have cast rays of hope on the cryptocurrency. This comes as XRP is attempting to break away from the broader crypto sphere.
XRP’s journey has been clouded by Ripple’s ongoing high-profile lawsuit with the SEC over the classification of XRP as a security. This ongoing legal tug-of-war has sown seeds of doubt regarding the long-term trajectory of the XRP token. Despite this, Ripple’s Brad Garlinghouse recently dropped hints about a potential thaw in the icy standoff in the forthcoming weeks.
John Deaton, an XRP-friendly lawyer, has echoed the sentiment that a favorable outcome in the SEC lawsuit could considerably drive the XRP price.
However, it’s worth noting that despite the current optimism, XRP is still down more than 80% from its record high that was set back in January 2018.