Amongst a dark crypto winter, XRP seems to be shining to its glory, hence adding a silver lining to the gloomy crypto cloud.
For many crypto fans, 2022 turned out to be one of the more disastrous years. Following the collapse of the Terra ecosystem, which caused investors to lose millions of dollars, there was a bear market, followed by rising interest rates and inflation.
However, XRP looks to be faring better than other alternative currencies today. Santiment’s on-chain analytics show that starting February 2020, the number of daily unique active addresses on the altcoin’s Network has increased to its highest level in about 2.5 years.
On June 26, there was a huge rise in the number of active addresses on the network. This occurred when active addresses rose by 685 percent from the day before, going from 29,640 to 202,960 unique addresses. The number of active addresses fell over the next days, however, this decline was occasionally disrupted by abrupt spikes in the activity of roughly 50,000 active addresses, followed by a decrease. The XRP Network had 45,000 daily unique addresses on average at the end of June.
XRP fairing better than most altcoins?
Additionally, Santiment noted in a tweet that on Thursday, popularly known as “crypto slide day,” XRP showed stronger performance than the majority of other altcoins. Although the statement is unclear, there is some truth to it. By comparing the price history of XRP and ETH, the primary cryptocurrency on the crypto market, we can conclude that this particular altcoin had superior performance, trading at one point 9% higher and closing the day 4% higher.
Although the token managed to rebound at the close of the day and the start of a new session, the altcoin, nevertheless, saw a decline in value against the USDT, and its quotes are still below where its investors would like them to be. At the time of writing, XRP was priced at $0.313672 with a hike of 1.2% over the last 24 hours.