Compass Investments

– The rapid growth in XRP transaction volume on the XRPL network points to widespread adoption of XRPL as investor confidence builds to new heights amid a resurgence of interest in the cryptocurrency.

While the volume of transfers does not always directly correlate to price performance, this tangible increase in XRP activity on the blockchain is accompanied by significant upward price trends.

While the exact reason for the jump in payment volume is not yet clear, the increase is usually due to increased transaction activity from both buyers and sellers.

However, in this case, the sudden jump seems to have been caused by increased buyer activity rather than seller activity.

This is evidenced by the significant increase in token value, as well as a noticeable increase in trading volume and total market capitalization, reflecting upward trends of 13.28% and 9.20% , respectively.

Moreover, the data shows that the number of active addresses in the XRP Ledger has increased to about 20,000, indicating that a significant number of bulls are actively buying, fueling the upward trend of XRP.