Imagine waking up one morning to find your favorite crypto suddenly got a user-growth shot straight into the vein.
That’s exactly what happened with XRP , which saw new accounts double overnight like a rocket fueled by pure excitement, or maybe sheer chaos.
The XRP network’s utility
At October 30., experts shared that nearly 9,900 fresh XRP wallets lighting up the network, marking one of the sharpest daily jumps in months.
This isn’t just a random blip. Payments on the network also hit over 1 million in transactions on November 1, with a volume topping 1.2 billion XRP.
The level of activity screams one thing, people aren’t just sitting on the sidelines anymore. The question is why?
Analysts say this synchronized spike in new accounts and transaction flow suggests more than mere speculation.
The network’s utility is flexing some serious muscle. Yet, despite this on-chain fireworks display, XRP’s price is playing it cool, in a slow, gentle uphill climb, the kind that makes traders sip coffee slowly, waiting for magic or mayhem.
What does the XRP chart says?
Now, technical indicators add a dash of suspense. Market observes highlighted that the 100-day and 200-day moving averages hover between $2.70 and $2.80.
Now, this zone acts like a velvet rope with a velvet bouncer. Break through, and it could spark a run to $3.00.
Stall here, and a fallback to $2.35 isn’t off the table. The chart’s tension is palpable.
The twist in the story is interesting, because no one’s quite sure what triggered the user frenzy.
It could be big money playing dress-up, testing Ripple’s international payment gizmos ahead of any regulatory clarity (that’s the XRP guys fav phrase by the way), or it might be retail investors shaking off their slumber after XRP lagged behind other crypto heavyweights. Whichever it is, the energy is infectious but also unpredictable.
Fundamentals
Unfortunately, bursts of new users and booming payments aren’t guarantees of longevity.
Without steady retention and a stream of fresh liquidity, analysts warn that this party could end as quickly as it started. The fundamentals glimmer like a candle in the wind, hopeful, but fragile.
Right now, the mood calls for cautious optimism. XRP’s network revival may just be the opening act for a stronger ecosystem and a potential rebound in price.
Or, as always with crypto, the next plot twist might be lurking just around the hashblock.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
