- Ripple hits a 2-year milestone as number of unique addresses spikes.
- Despite achieving the milestone, XRP’s price continued to fall over the last 24 hours.
- XRP’s price has now dropped below the 9 EMA line on the 4-hour chart.
Ripple (XRP) is holding up during the extended selloff seen in the crypto market over the last 24 hours.
Ripple hit a 2-year milestone as the number of unique addresses on the XRP network exploded, crossing above 200,000. This is the first time that it has crossed this number since February 2020, according to data released by Santiment.
Number of unique XRP addresses (Source: Santiment)
The number of unique addresses surged to a 2-year level after being in a consistent decline since February 28, 2022. During this period, the price of XRP also went downward.
Looking at the current price of XRP, it has experienced a 3.29% drop over the last 24 hours to take the price down to $0.3154. This price dip has added to the negative weekly performance of XRP, as its price is now down 13.81% over the last seven days.
XRP has also weakened against Bitcoin (BTC) by 0.47% and has strengthened against Ethereum (ETH) by 0.13%. As things stand, one XRP token is worth approximately 0.00001626 BTC and 0.0002996 ETH.
XRP is currently ranked as the 7th biggest project in terms of market cap. This ranks it underneath Binance USD (BUSD) and above Cardano (ADA).
4 hour chart for XRP/USDT (Source: CoinMarketCap)
On the 4-hour chart for XRP/USDT, XRP’s price attempted to challenge the 20 EMA level after beating the 9 EMA level. However, the 20 EMA reminded XRP of its role as a resistance level as the price of XRP then dropped below the 9 EMA line shortly after testing the 20 EMA price.