Ali Martinez, a well-known cryptocurrency expert, has drawn attention to the growing XRP network and its possible influence on price movement. Martinez highlighted the rising amount of new addresses being established on the XRP blockchain, which is frequently seen as a good predictor of price swings, using data from the cryptocurrency intelligence portal Santiment. Martinez claims that a steady increase in the number of new addresses typically comes before a substantial price spike.
Over the past few days, the dramatic increase of address activity surrounding XRP has attracted notice. This oddity was first covered by U.Today, a well-known cryptocurrency news site, in late May, citing Santiment’s results. Surprisingly, these address activity surges rank as the second and third biggest ever seen over the whole XRP monitoring period.
Despite a huge 11% price rise over the previous week, XRP is currently seeing a serious selling response near the crucial $0.54 level. By overcoming this obstacle, the following goal of $0.6 would be made possible. Whether Martinez’s predictions about the price increase would come true remains to be seen.
All things considered, traders and investors are once again paying close attention to XRP, a cryptocurrency known for its propensity to defy market trends. Despite the fact that some see this as encouraging news, others are unconvinced due to the token’s turbulent background. Will XRP’s network expansion actually result in a large price increase, or is it simply another disguised hope?
