XRPLedger’s native token (XRP) gained 12% on Nov. 29 as the altcoin held steady above $1.7300, rallying alongside Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and other leading cryptocurrencies.

XRP on-chain indicators signal price growth 

XRP traders increased their on-chain activity between Nov. 16 and 29, and Santiment recorded several spikes in the active addresses metric. The spikes represent the increase in activity, accompanied by a spike in transaction volume across exchange platforms. 

The network realized profit/loss metric used to identify the net profit/loss of all tokens traded on a given day shows that XRP traders have been transacting profitably since Nov. 4. Positive spikes above the neutral line indicate traders’ profit-taking. 

Typically, large positive spikes are associated with the likelihood of higher selling pressure on XRP; traders need to watch this metric closely for signs of a reversal in trend. 

The ratio of daily on-chain transaction volume in profit to loss is 6.73, meaning profitable transactions are dominant as XRP price rallies. 

The on-chain metrics support a bullish thesis for XRP price alongside technical and other indicators. 

XRP eyes retest of April 2021 peak

Technical indicators show the likelihood of an extended price rally and a retest of $1.9669, the April 2021 peak for the altcoin — a 12.85% rise from the cu

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Author: Ekta Mourya