Current Ripple On-Chain Data Suggests Bullish Rally for XRP
A new on-chain data report has been made available regarding XRP, and a thorough study of it suggests that there might be chances of a bullish run accompanying the digital asset sooner than later. Based on two dedicated metrics, the XRP Ledger asset might be able to kick up a notch in terms of price and overall value. The conclusion was drawn from the number of overall mentions that XRP got on social media and the overall addresses on the blockchain, which continue to rise even now.
All of these things mean one thing that in the near future, the XRP value could increase in number, and that also suggests a handsome increase in the asset price. XRP has dropped to a factor of 10% over the last 24 hours, and at the time of writing, it is trading at 1.01 dollars. This might not be much in the hopes of a sudden increase, and it might not cross more than $0.50. But imagine $0.50 being added to XRP’s overall value; it would do wonders not only for the crypto market but the digital asset itself.
The recent bump that the flagship cryptocurrency Bitcoin took in terms of price did light up the whole crypto market, and many new addresses are accompanying various digital assets over time. This might be their try of checking out the competition or diversifying their portfolio by investing in other potential cryptocurrencies. But at the end of the day, these are just predictions and coughed-up numbers; this might add handsomely to the bullish run, which might or might not accompany XRP in the near future, or this whole thing might end up as a ruse.
What the past research data suggest that this overwhelming increase in the social media mentions and blockchain addresses only points towards one thing and one thing only, which is a sudden increase in the price and value of a crypto asset. Even by increasing in mere cents, XRP would send huge waves crashing down the crypto market and strengthening the morale of the traders and the institutional investors as well.