Recent data highlights a resurgence in key metrics related to the XRP ecosystem, signaling a notable increase in demand and network activity for the asset. On September 22, XRP payments from one account to another surged past one million, marking the highest level since September 12. This uptick accompanies an increase in the number of active accounts and executed transactions, with the average number of transactions per ledger also reaching multi-week highs.
Notably, the total number of active accounts on the XRP Ledger has surpassed seven million, each wallet holding at least one XRP. These indicators suggest a reinvigorated environment for XRP amidst fluctuating market conditions.
However, XRP’s price faced a substantial pullback at the beginning of the week, dropping to a two-week low of $2.78 before rebounding slightly to about $2.81. According to analyst Ali Martinez, XRP has the potential to climb back to $3.60 as long as it maintains above the $2.71 threshold. This price correction has allowed market “whales” to accumulate 30 million tokens, which reduces the circulating supply and could potentially spur a price increase, provided demand remains steady. Additionally, the asset’s Relative Strength Index (RSI) has recently hit a three-month low, suggesting it may be oversold and poised for a price rally.
In related news, Ripple has entered a partnership with Securitize to facilitate a smart contract enabling holders of BlackRock’s BUIDL and VanEck’s VBILL to exchange their shares for Ripple’s stablecoin, RLUSD. This initiative represents the first integration of Ripple’s stablecoin into Securitize’s platform, and both companies aim to enhance liquidity for tokenized assets. Carlos Domingo, co-founder and CEO of Securitize, emphasized that this partnership is a step forward in automating liquidity and delivering real-time settlement across compliant, on-chain investment products.
In a lighter note, Ripple’s CEO, Brad Garlinghouse, recently celebrated his wedding to Tara Milsti. The glamorous event took place at the luxurious Hotel du Cap-Eden-Roc on the French Riviera, attended by notable guests including actors Zac Efron and Nina Dobrev. Due to the excitement of the occasion, many figures from the cryptocurrency community extended their congratulations to the couple.
As developments continue to unfold for XRP, its community remains optimistic about the asset’s potential for recovery and growth amid a rapidly changing digital landscape.
