XRP, the token associated with blockchain giant Ripple, has recently come into the limelight as the hottest asset in the cryptocurrency landscape.
XRP, the cryptocurrency associated with the blockchain company Ripple, is actually the hottest trending asset in the crypto space after seeing a significant price increase of 22% in the past 19 days, according to crypto analytics platform Santiment.
The 6th-ranked crypto asset is seeing historically high increases in address activity, suggesting that the crypto price may be gearing up for unique behavior for 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 not seen since November 2021.
Unprecedented increases in address activity seen over a two-day streak have cast glimmers of hope for the cryptocurrency. This comes as XRP attempts to break away from the larger crypto sphere.
XRP’s journey has been clouded by Ripple’s ongoing high-profile lawsuit with the SEC regarding XRP’s classification as a security. This ongoing legal tussle has cast doubt on the long-term trajectory of the XRP token. Despite this, Ripple’s Brad Garlinghouse recently hinted that there could be a possible thaw in the icy standoff in the coming weeks.
John Deaton, a pro-XRP lawyer, echoed the sentiment that a favorable outcome in the SEC lawsuit could significantly boost the price of XRP.
However, it should be noted that despite the current optimism, XRP is still down more than 80% from its all-time high set in January 2018.