Where the third-ranked digital currency in the world by market cap XRP is facing pullback in its price value, it is continuously witnessing an increase in its number of daily active addresses. Reportedly, the number of daily active addresses of XRP has risen high in recent times.
XRP’s number of daily active addresses hit seven-day high
For over the course of the last seven days, the daily active addresses of Ripple’s XRP currency are on a significant rise. The recent data shows that the number of daily active addresses (DAA) of XRP has hit a new seven-day high by reaching the 9,499 on the 24th of August. The rise in active addresses has occurred at the time when the third-largest cryptocurrency has retraced during the last week by approximately 9.2%.
However, this number of daily active addresses that the coin has seen during the last seven days is still much more below than the number that was recorded in the month of February. On the 13th of February, the number of daily active addresses reached the highest number at 70,944. While on the other hand, there were only 50,583 daily active addresses back in the year 2017 when the major digital currency recorded its all-time high value at around $3.11.
Santiment, the cryptocurrency analytics company, reports that Ripple’s XRP is showing a bullish divergence pattern on the chart.
XRP’s number of active addresses is very low than BTC and ETH
Though XRP is seeing an increase in its active wallet addresses the number is still very low as compared to the leading digital currency Bitcoin (BTC) and the second-ranked digital currency Ethereum (ETH) so far.
The average number of daily active addresses of BTC is over 900,000 which is far higher than Ripple’s XRP. While on the other hand, ETH’s daily active addresses revolve around 400,000.