Santiment: XRP On-Chain Data Flashing Signal That Has Historically Lead To Price Rises

Santiment, a blockchain analytics business, predicts that the price of XRP Ledger's native asset (XRP) would rise based on two measures. On Twitter, Santiment claims that an increase in the number of addresses on the XRP Network, as well as an increase in social media mentions, indicate that XRP's value may climb.

"XRP is gaining traction on social media, and our data reveals that in the month of October, there was a considerable increase in the number of addresses communicating on the #XRPNetwork.

Historically, these divergences have always resulted in price increases." According to CoinGecko, XRP is trading at $1.01 at the time of writing, down 10% in the previous 24 hours.

According to the blockchain analytics organization, Bitcoin's (BTC) recent price surge to a new all-time high boosted address activity.

"As address activity currently visits over [one million] addresses at a pretty regular rate, it's a positive indicator that addresses are continuing to engage with the BTC network on an expectedly frequent frequency to justify rates."

Bitcoin's mean dollar invested age declined in the aftermath of the flagship cryptocurrency's all-time high, demonstrating that markets "can and will survive," according to Santiment. The measure determines the average age of all Bitcoins based on when they were purchased.

"[Bitcoin's] mean dollar invested age has declined for the first time since March, with 3.3 days lost in the last week."

An protracted decrease in mean dollar age is a significant indicator that markets may and will prosper owing to previously inactive addresses ultimately commencing to circulate substantial sums of tokens in most prior bull runs."

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