Address Activity of XRP Increases Near $1.10

XRP, the world’s 7th largest cryptocurrency, has seen immense Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term in the last 24 hours as its price jumped by nearly 10% within 1 hour during the Asian trading session on Friday 10 September.

According to the latest data posted by Coinmarketcap, XRP jumped from $1.10 to as high as $1.23 today. However, the price saw a pullback and dropped to the price level of $1.13. At the time of writing, the cryptocurrency was trading near $1.14 with a market cap of over $52 billion.

One of the major reasons behind XRP's price rise is its address activity. The total number of active addresses has increased sharply in the last few days. “XRP just enjoyed another 10% burst, minor pullback, and now another leg up at the time of this writing. A continued great leading metric for XRP is address activity. When unique addresses suddenly spike a price rise usually follows in the mid-term,” the crypto Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term platform, Santiment mentioned.

XRP Whale Activity

In addition to the rising address movement, XRP whale activity has jumped significantly in the last few days. Today, a prominent crypto wallet moved 83.2 million XRP to an unknown wallet. The total value of the transfer currently stands at around $94 million. The mentioned transfer was executed at 5:03 UTC. In a separate transaction, the XRP whale account moved over 10 million coins worth more than $13 million from crypto exchange Upbit to Bittrex on Friday 10 September at 1:42 UTC.

Yesterday, digital asset Solana (SOL), a competitor of Ethereum, crossed the market cap of $60 billion and became more valuable than XRP. Following an all-time high, SOL saw a major correction and dropped by more than 10%. On the other hand, XRP’s demand surged during the same period. The difference between the market cap of Solana and XRP now stands at around $3 billion.

The overall market cap of digital currencies has remained stable in the last 24 hours near $2.1 trillion.