Ripple sees a surge in new and active addresses, signaling strong on-chain activity. However, XRP's price remains stable at around $0.55.
Analysis shows a surge in new and active addresses while XRP stays stable at $0.55. Read on to explore how on-chain activity could impact the price.Despite a surge in new and active addresses, XRP’s price remains stable, showing limited reaction to positive on-chain trends.addresses showed that there has been a surge in new addresses in the past few days. Also, there has been a surge in daily active addresses, showing a strong on-chain activity.
This sharp increase highlights a growing interest in Ripple as more wallets are being created, signaling strong user engagement within the network.In addition to the growth in new addresses, there has been a noticeable spike in the number of daily active addresses on Ripple’s network. On October 19th, daily active addresses surged to 36,000, the highest number since July.
However, XRP continues to trade above its 200-day moving average , which has provided strong support at around $0.50.On the other hand, the 50-day moving average continues to act as resistance at approximately the same price level. As of this writing, Ripple is trading at around $0.55, showing a slight upward trend.
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