Crypto analyst Ali Martinez has sparked excitement among investors by suggesting that the price of XRP, a popular cryptocurrency, may experience a significant surge if historical patterns repeat.
Martinez observed a correlation between the rise in XRP’s price and the number of active addresses on the XRP network. Supporting this notion, data from the crypto intelligence platform Santiment indicates a potential for XRP to reach new heights based on historical trends. Martinez’s chart reveals a notable increase in on-chain activity associated with the XRP token.
The daily number of addresses has surpassed 120,000 since the middle of last week, comparable to figures observed earlier this year. Notably, during that previous period, XRP’s price surged by over 25%. If a similar trend were to emerge now, it could signify a potential rise to $0.6 per XRP. This price level aligns with a strong resistance level, underscoring its significance as a milestone for XRP.
While the correlation between active XRP addresses and price changes is intriguing, it’s crucial to consider other factors that influence the market. Examining the relationship between network activity and price movements offers a unique perspective on market dynamics. If history repeats itself for the fourth time this year, this pattern would carry significant weight.
