Could This Surging XRP Ledger (XRPL) Metric Lead to Ripple Price Rally?

TLDR:

Key XRP indicators have surged, indicating growing adoption. However, XRP's price has lagged behind other major cryptocurrencies, potentially due to the ongoing Ripple v. SEC lawsuit.

XRP Activity on the Rise

The XRP Ledger (XRPL) has experienced a significant uptick in activity. According to Santiment, there were 35,799 unique active wallets recently, the highest count in over three months. Additionally, other metrics such as XRP payments and transactions have spiked.

Increased wallet activity suggests growing adoption and utility of the XRP Ledger, which could be bullish for XRP's price as it indicates increased trust and investment.

XRP Price Lags Behind

While XRP's price has rebounded slightly, it remains below the gains achieved by other leading cryptocurrencies. BTC, ETH, SOL, and DOGE have all outperformed XRP in recent days.

Uncertainty from Ripple v. SEC Lawsuit

The ongoing lawsuit between Ripple and the SEC is a potential factor contributing to XRP's price lag. The SEC recently appealed portions of a previous verdict that ruled XRP was not a security. The lawsuit's resolution remains uncertain, casting a shadow of uncertainty over XRP's future.