XRP investors, the long wait for happier days is finally over because…

XRP investors, the long wait for happier days is finally over because…

After a months-long feud between Ripple and the SEC, things are finally settling down. This new development generated excitement throughout the crypto community as it gave investors hope that brighter days are ahead. The excitement is also on solid footing as XRP’s recent price action was commendable.

XRP posted growth of over 64% in seven days, a performance that was better than the top 100 cryptocurrencies in terms of market cap. This unprecedented increase in the price of XRP also helped the alternative exchange BUSD to get the sixth place in the list of top cryptocurrencies. At press time, XRP was trading at $0.5498 with a market capitalization of $27,058,456,842.

Source: CoinMarketCap

The stars look good for XRP

While everyone was excited about all of these positive developments in the Ripple ecosystem, the company’s CEO, Brad Garlinghouse, sat down with Fox Business. He also expressed his views on the current scenarios and the price increase.

Interestingly, several changes were noted in the token’s on-chain metrics, which supported and fueled the unprecedented price drop.

For example, according to Lunar Crush data, XRP’s ‘Lunar Crush Altcoin’ rating was low, which was a bullish sign. He also hinted at the fact that the price increase may continue in the coming days. Social mentions and social engagement of XRP also increased by 12% and 64% in the last week, respectively.

Data from Santiment revealed that the XRP/BTC price ratio hit a one-year high of 0.000025. Furthermore, another encouraging sign was that since the end of 2020, active shark and whale addresses holding between 1 and 10 million XRP had been on an accumulation trend.

Moving on to better days…

With all these developments in the XRP community, the future of the token looked promising after a long wait. Interestingly, several other on-chain metrics also supported the possibility of a further rally in the coming days. The realized value ratio (MVRV) of XRP’s 30-day market value saw a massive increase, as did the token’s social volume.

However, a setback for XRP could be the drop in its development activity over the past week, which was generally a negative sign for Ripple.

Source: Sentiment

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