Ripple network activity soars to new all-time highs

Yesterday you could read in the crypto news that Ripple (XRP) had risen above the psychological threshold of $0.50 for the first time in 6 weeks. At the time of writing, however, the price has fallen slightly again and is engaged in a real battle with this important resistance. The XRP network has also experienced its second and third largest spikes in address activity in history in recent days.

XRP network busy

On May 30, blockchain analytics company Santiment announced on Twitter that a new rise in the Ripple price may be imminent. This has to do with the huge peaks in activity on the network.

On May 27, there were approximately 490,000 addresses active on the network, which was also the second busiest day in Ripple’s entire history. Another massive spike was recorded a day later, just two and a half months after the highest spike in address activity ever. At the time, this peak preceded a price increase of 45 percent within a 10-day period.

Santiment said the following about a possible price increase:

“A mild +4% decoupling has developed between XRP and the altcoin pack, and if history repeats itself from the March 18 activity spike, it could be more.”

End Ripple lawsuit near?

Ripple has now been embroiled in a lawsuit with the US for two and a half years Securities and Exchange Commission (SEC), but in the Ripple news, there is currently a feeling that this fierce battle will soon come to an end.

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For example, you could read last week that Jeremey Hogan, one of Ripple’s most popular lawyers, recognized a pattern in which judge Analisa Torres makes a major decision in the case every nine weeks. Based on this, you could argue that the next big decision, the judgment, could come in mid-July.

Brad Garlinghouse, Ripple’s CEO, also recently said that a ruling could potentially come within weeks. This expectation is partly due to the fact that the process has gained momentum following some interesting developments.

For example, the judge ruled that the Hinman documents will not be sealed. These documents relate to former SEC official William Hinman’s 2018 speech in which he stated that ethereum (ETH) is not security is. At the beginning of June, these documents, which could play an important role in the final verdict, will be made public.

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