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TL;DR
- One of the crucial metrics showcasing the overall interest and use case of Ripple’s network has skyrocketed recently, which is in stark contrast to its recent downtrend behavior.
- This, alongside a few technical indicators, suggests an upcoming price surge for the underlying token.
The metric in question is the number of active XRP addresses. Recall that it had declined significantly just a few days ago, dropping by nearly 50% within a month or so. This is a warning sign for the asset’s price as it demonstrates that users are less and less inclined to actively use the ecosystem.
However, Ali Martinez outlined a massive resurgence of the number of active addresses, which skyrocketed by 67.5% on a daily scale on Sunday. This was somewhat unexpected given the relatively calm price moves during the weekend and the low trading volumes.
$XRP network activity jumped 67.50%, with active addresses rising from 27,352 to 40,366! pic.twitter.com/fDiERMIYiz
— Ali (@ali_charts) April 21, 2025
While the growing usage of the XRP network by more active addresses can be considered a bullish sign, so can the inverse head and shoulders pattern XRP “appears to be forming,” Martinez added. The analyst with over 135,000 followers on X believes this technical indicator can send the token flying to $2.7.
Such a potential surge would represent a 30% increase from the current levels, given that XRP has retracted slightly to under $2.1 now.
$XRP appears to be forming an inverse head and shoulders pattern, signaling a potential bullish breakout toward $2.70. pic.twitter.com/Wm5FW7BPgW
— Ali (@ali_charts) April 21, 2025
Additionally, the squeezing Bollinger Bands indicated that XRP’s consolidation is coming to an end, which could trigger a big move in either direction.
The post Vital Ripple Metric Sees 67% Surge: Is XRP Preparing for a Major Rally? appeared first on CryptoPotato.
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