$XRP Prices Jumps After Active Addresses on Its Network Hit New All-Time High
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The price of $XRP, the native currency of the XRP Ledger, has jumped over 36% over the past few days after the number of active addresses on the network surged to a new all-time high above 200,000.
As first pointed out by cryptocurrency analytics firm Santiment, the price of XRP went up in what appeared to be a reaction to an uptick in daily active addresses that started in mid-January on the XRP Ledger.
Taking a deeper look, data from Messari shows that the number of active XRP addresses notably hit a new all-time high in January of this year at 243,800. Active addresses numbers have since dropped to now stand at 186,600, a significant rise from where they were last year, at around 20,000.
The cryptocurrency’s price may also be surging as the founder and CEO of Flare Networks, Hugo Philion, has updated the XRP community of the upcoming airdrop of Spark ($FLR) tokens they will receive once Flare Networks launches. Each eligible XRP holders will immediately receive 15% of their claimable FLR tokens at launch, with an average of 3% being claimable per month thereafter.
On top of that, the CEO of Ripple Brad Garlinghouse said that last year was the fintech firm’s strongest one ever, despite its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
Ripple’s legal battle with the SEC started after the regulator sued ripple and two of its executives alleging they “raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.” Judge Analise Torres has recently granted in part and denied in part a request from Ripple and some defendants to seal exhibits in their filings to move against the SEC’s motion to strike the Fair Notice defense.
Judge Torres also ordered three documents related to the case to be unsealed, including an email thread and deposition notice of Ripple’s CEO and the email strong of founder Chris Larsen. The order shows the court sees the case as one of public interest.
As reported, data shows that whales on the XRP Ledger with between one million and 10 million tokens have been accumulating tokens over the last few months to hold over 3.3 billion tokens.
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