XRPon-chainactivityhassurged,withactiveaddressesreachingasix-monthhighof12,230.
Newwalletcreationsincreasedby10.39%,whileoveralltransactionvolumesdeclined.
Despitethisuptick,XRP’spricerecentlyfellbelow$0.50duetobroadermarketconcerns.
ActivityontheXRPblockchainisexperiencingaremarkableresurgence.RecentdatafromCryptoQuanthighlightsasignificantuptickinon-chainactivityforXRP,withthenumberofactivesendingaddressesreachingasix-monthpeak.
Thisrenewedmomentumhasseen12,230activeaddressesengagedindailyactivity,indicatingaresurgenceinmarketinterestinXRP.
WhatHeightenedOn-ChainActivityMeansforXRP
CryptoQuantanalystMaartunnpointedoutthatthisuptickstronglyindicatesshiftingsentimentinfavorofXRPandpotentiallythebroadercryptomarket.Increasingactiveaddressesoftenreflectsheightenedinterestandassetmovementonablockchain,suggestingariseinXRP’srelevanceandutility.
Maartunnconcludedbynotingthatwhetherthismomentumwillpersistremainstobeseen,buttherecentactivityisanencouragingsignforXRPholders.
XRPPricePerformanceLagsBehind
Notably,thisspikeinXRPon-chainactivitycomesatatimewhenXRPistradingaround$0.51.OnFriday,XRPfellbelow$0.50forthefirsttimesinceAugust.
ThedeclineinXRP’spricemirroredabroadermarketdownturnonFridayeveningfollowingaWallStreetJournalreportthatTether(USDT)wasunderinvestigationformoneylaundering.
Thisnewsnegativelyimpactedtheentirecryptomarket,causingXRPtodroptoatwo-monthlowof$0.4935.However,afterTether’sCEOdeniedthereportandassertedthattherewasnoongoinginvestigation,XRPreboundedtoaround$0.5150.
XRPLedgerShowsMixedResults
Meanwhile,arecentlydisclosedanalysisofXRPLedger’son-chainactivitybyCryptoQuantrevealsthatbetweenSeptember15andOctober15,newwalletcreationsincreasedby10.39%,adding18,321accounts.
However,totaltransactionsfellby17.57%,processing18.82million,andpaymenttransactionsdroppedsignificantlyby26.16%to6.81million.Thissuggeststhatwhilemorewalletsarecreated,usersmakefewertransactionsoverall.
Onapositivenote,automatedmarketmaker(AMM)liquidityprovisiongrewsignificantly.AMMdepositactivityroseby62.35%,andAMMcreationsurgedby143.10%.ThetotalvalueintheseAMMpoolsreached27millionXRP,withapproximately14millionXRPcurrentlylockedacrossover3,000activepools.
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