Santiment: Ripple network activity hits two-year high

For the first time since February 2020, the number of unique addresses interacting with XRP has exceeded 200 000

03.07.2022 - 07:00

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What’s new? Activity on the Ripple (XRP) blockchain reached a two-year high on June 26, according to the analytics firm Santiment. For the first time since February 2020, the number of unique addresses interacting with the network has exceeded 200 000. The day before it was around 30 000, an increase of more than 580%.

😮 $XRP is holding up better than most #altcoins on a Thursday #crypto slide day. A couple days ago, the #XRPNetwork exploded with unique addresses interacting on the network, exceeding 200k for the first time since February, 2020. This is worth watching. https://t.co/WNqWhyZjh3 pic.twitter.com/c3nA7YyDn3— Santiment (@santimentfeed) June 30, 2022

What else did the experts note? Just a day after the surge in activity, the number of active addresses on the network dropped by 38% and amounted to 77 087. On June 28, there was again a spike to 121 600 addresses, after which activity returned to the range of around 30 000 unique addresses that it had demonstrated throughout the previous month.

Ripple is a payment protocol created in 2012 by Ripple Labs for currency exchange and transactions. It is used by government financial institutions in Australia, Canada, and Israel. The platform has the native token XRP. As of July 2, 12:40 UTC, the asset is trading at $0,313, down by 0,45% per day, according to Binance.

At the end of June, Ripple CEO Brad Garlinghouse said that the company would leave the US market if it lost a legal battle against the US Securities and Exchange Commission (SEC). The regulator accused Ripple of selling unregistered securities under the guise of XRP tokens in December 2020.

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