Messari & Santiment Highlight XRP Rise as Addresses Holding $10K Worth of XRP Surge

XRP is now the top trending asset in the crypto market, with its impressive price surge capturing the attention of leading resources Messari and Santiment.

XRP remains one of the top-performing crypto assets this year, having registered occasional surges at periods when the broader market was in shambles. Following its latest solo run, XRP is now the top trending asset in the crypto market, with its periodic price surges capturing the attention of the leading market data platforms Messari and Santiment.

In a recent tweet, Santiment, a prominent market intelligence resource, revealed that XRP is now at the top regarding social mentions, towering over all other crypto assets.

?️ #XRPNetwork is the top trending asset in #crypto as prices have jumped +22% the past 19 days. We are also seeing historically high address activity surges for the 6th ranked market cap asset. Expect $XRP's price to behave uniquely for the time being. https://t.co/xfW9vOGXcC pic.twitter.com/WYNbPkkJFd

— Santiment (@santimentfeed) May 31, 2023

Data from Santiment shows that “XRP” is the second most trending word in the crypto community, only behind “dex” regarding social mentions. XRP alone accounts for up to 6.98% of the entire social volume of the crypto scene. 

Santiment disclosed that XRP’s mentions had eclipsed discussions on all other crypto assets by an impressive 16.2%. XRP is also witnessing its highest social activity in over a year. The market data provider has ascribed this surge in social mentions to the recent spikes in address activity and XRP’s price actions.

Notably, XRP observed record spikes in its daily address activity this week, as recently revealed by The Crypto Basic. The number of XRP addresses interacting on the network surged to 490.35K on May 28 and 281.72K on May 29. These spikes occurred amidst a solo run engineered by XRP as it decoupled from the rest of the market.

The last time XRP witnessed such spikes was in March, leading to an impressive 45% surge a few days later. Investors are looking to jump in on a potential price surge, resulting in the recent uptick in XRP’s social activity. Due to increased demand, XRP has gained by 22% in the past 19 days, according to Santiment.

XRP Outperformed the Overall Market in Q1

Besides Santiment, Messari, a leading crypto market data provider, called attention to a previous report on XRP which pointed out the asset’s meteoric rise in the first quarter of this year. The Crypto Basic highlighted the information two weeks back, noting that XRP outpaced the entire market in Q1, skyrocketing by 55% QoQ.

$XRP surged in March twice, following positive news of the legal battle between @Ripple and the SEC.

The ongoing case began in 2020 when the SEC charged Ripple with conducting an unregistered security offering for the $XRP token. pic.twitter.com/5KzvaLJnzg

— Messari (@MessariCrypto) June 1, 2023

XRP’s biggest rally for the first quarter occurred in March amid an uptick in address activity and increased demand, as speculations of a ruling in the SEC vs. Ripple lawsuit emerged. These conditions are now being set in motion, increasing investors’ interest.

XRP Addresses

Stats show that number of addresses holding equal to or more than $10,000 worth of XRP are reaching Nov 2021 highs.

# of addresses holding >=$10,000 worth of XRP
Steadily approaching the Nov 2021 highs…@DigPerspectives @digitalassetbuy @EleanorTerrett pic.twitter.com/fZofWmAlrP

— Matt Cr (@MJC_SD) June 1, 2023

Meanwhile, XRP has witnessed stern opposition in its latest run, facing fierce resistance at the one-month high of $0.5293. XRP has plummeted by 2.59% in the past 24 hours but is still up 10% in the past week. XRP is trading for $0.5034, passionately defending the $0.50 territory as it hedges against any drop below it.