- Activity on the XRPL increased, signaling traders’ commitment to holding XRP.
- XRP became the most-traded altcoin of the year, beating SOL, BNB, and DOGE.
Ripple [XRP] has long been a prominent player in the cryptocurrency space. But its value as a long-term investment asset has struggled to gain attention since its case with the U.S. SEC began.
How much are 1,10,100 XRPs worth today?
However, it seemed that the token’s good old days may be back for better due to happenings on the network. To begin with, the daily net amount of trust lines created on the XRP Ledger (XRPL), recently jumped from -33,000 to -1898.
The choice isn’t blinding
For context, the XRPL is the decentralized public ledger of the Ripple network that allows for the fast, low-cost transfer of XRP. On the other hand, the trust lines are the structures in the ledger for holding XPR tokens.
Therefore, the increase in the trust lines created implies that XRPL now held the capacity for holding XRP tokens. One reason for this could be linked to the recent win over the SEC. Like the trust lines created, the total amount of assets issued on the XRPL also climbed.
This metric represents the number of tokens an issuer holds within the XRPL. When both metrics spike, it means that holders may have made a compelling choice that XRP’s long-term price action was one to be optimistic about.
Author: Victor Olanrewaju
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