This week was a nice holiday surprise for Ripple XRP (XRP), rallying more than 5% on Christmas Day as the crypto market started showing signs of life again. Prices soared to nearly $0.65, attaining XRP’s highest level in more than a month. Lucky for XRP bulls, in going through on-chain data, it looks like there has been critical network growth, including a boatload of new XRP wallets created on Monday.
At press time, XRP is trading at $0.63, up close to 8% over the past 30 days. Aside from outperforming Bitcoin and the broader crypto market, XRP buying has been increased because of growing optimism about the spike in new users of the ledger network. This was demonstrated when, per analytics firm , 12,819 fresh Ripple wallets were established on Monday alone.
We last saw similar growth in user wallets toward the end of last December, with XRP prices surging more than 15% in just 72 hours when network activity increased. This month’s new surge gives hope that, similarly, the market demand as well as transactions volume of XRP may climb.
Market bulls will be focusing on Ripple — in addition to some key overall metrics — to keep aleady seen XRP gains alive. It is projected that a rise past immediate blocked resistance at $0.67 could pave way to discount an attack at XRP’s month of November high ($0.80). Any major stall, though, on the other hand, could take XRP’s prices back to the familiar $0.59 pavement.
