XRP Gains Ground Against Bitcoin as Active Address Count Remains High

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[NEWS BLOG]: XRP Gains Ground Against Bitcoin as Active Address Count Remains High

XRP has seen some wild price action over the past few days and weeks, with investors sending the previously embattled token rocketing by over 300% following its break above the long-held trading range between $0.20 and $0.30.

The selling pressure in the mid-$0.60 region has proven to be quite intense in the past and may continue hampering its price action in the days and weeks ahead as it tries to surmount this.

This breakout isn’t the only thing that helped the crypto rally higher, as the upcoming Spark airdrop was also a catalyst for this push higher.

Because many investors now look favorably upon airdrops due to the success of that conduct by Uniswap, the one being sent to XRP holders in the coming weeks likely helped drum up some serious buying activity.

One analytics firm spoke about this in a recent tweet, explaining that while XRP is gaining some ground against Bitcoin, its price is being driven higher by an influx of daily active wallet addresses interacting with the token and with the network.

This is a sign of fundamental strength that may help boost the cryptocurrency’s price action going forward.


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