Unique XRP active addresses surpass 247k in just 4 hours.
Santiment Feed, in a tweet on Tuesday, reveals that there continues to be interesting activity on the XRP network as the number of active unique addresses surpassed 247k in 4 hours for the first time since February 2020, even as new addresses continue to be created at a steady rate.
“XRP Network has just hit a huge milestone. The amount of unique addresses currently interacting on the network has exceeded 247k in just a 4-hour window. This is the highest spike recorded since February, 2020. New $XRP addresses created remains steady,” Santiment tweeted.
😮 #XRPNetwork has just hit a huge milestone. The amount of unique addresses currently interacting on the network has exceeded 247k in just a 4-hour window. This is the highest spike recorded since February, 2020. New $XRP addresses created remains steady. https://t.co/cCrVMu5WDA pic.twitter.com/C5m472oWy3
— Santiment (@santimentfeed) July 26, 2022
While Santiment does not specify the catalyst for this latest activity, it is worth noting that there has been a flurry of positives for Ripple and the XRP network in recent times. Notably, XRP is seeing global adoption. In addition, as reported by The Crypto Basic, Ripple has entered a partnership with Singapore payments giant FOMO pay to allow them to make instant treasury settlements leveraging Ripple’s On-Demand Liquidity (ODL) using XRP as a bridge between currencies.
Notably, the XRP network continues to show strong on-chain fundamentals on par with levels seen before it got tied up in a legal battle with the US SEC. As the conclusion of the almost 2-year-long legal battle draws nearer, several crypto community members expect a win for the blockchain payment giant, even as CEO Brad Garlinghouse says the law is on their side.
It is worth noting that a win for Ripple could have significant positive implications for the XRP token. Several US-based crypto exchanges that had to cease XRP trading activity due to the legal battle are likely to resume.
At the time of writing, the XRP token is trading at the $0.3367 price point, up 0.62% in the last 24 hours but down 10.65% in the last seven days. Notably, the price of crypto assets continues to suffer in the face of a tough macroeconomic outlook as the markets await the rates decision of the Federal Open Market Committee (FOMC) later today.