Ripple Network Expands; XRP Addresses Rise
The Ripple network is seeing positive changes, as evidenced by recent on-chain data, as the number of new XRP addresses keeps increasing. Renowned crypto expert Ali Martinez claims that this increase in addresses frequently portends the prospect of major price growth in the near future.
According to a research by ZyCrypto, the influx of new addresses was a key factor in driving XRP’s price above the psychological resistance level of $0.50. As a result, XRP surged to a high of $0.056 on Tuesday, inspiring the XRP Army’s optimism that the coin will soar to the $10 level.
Despite being a positive sign for the upcoming XRP surge, the rise in addresses should not be seen as a guarantee. Investors are still waiting to see how the U.S. SEC case against Ripple, which asserts that XRP is a securities, turns out. The recent inclusion of William Hinman’s lecture, in which he asserted that Ether is not a security token, in the case documents is crucial to Ripple’s defence. These materials will be used by Ripple to show why XRP and ETH should not be considered security tokens.
(With inputs from Shikha Singh)
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