SEC Lawsuit May End Soon As XRP Experiences Historic Address Activity
The XRP network has recently experienced two significant surges in address activity, marking a positive trend for the digital currency. These record setting spikes were identified by blockchain analytics platform Santiment.
This occurrence suggests a potential upswing for XRP, similar to the price appreciation it observed following a surge in address activity on March 18th. Presently, XRP is valued at just over $0.50, reflecting a 4.2% increase for the day and a substantial 7.8% growth over the week.
The divergence of XRP and its behavior from other cryptocurrencies, such as Bitcoin and Ethereum further supports the notion of a possible breakout for XRP. It is worth noting that these notable address activity spikes coincide with increased attention on Ripple due to an ongoing lawsuit with the SEC concerning the classification of XRP as a security.
However, Ripple CEO Brad Garlinghouse recently hinted at the potential resolution of the case within the next few weeks, offering an optimistic outlook that could have spurred the heightened network activity.
If the SEC lawsuit is successfully resolved, it could provide a significant boost to XRP by addressing regulatory uncertainties and potentially driving increased adoption. However, nothing has been confirmed as of this moment.
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