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Crypto: XRP attracts 100k new investors in June, ready for the explosion?

Wed 12 Jun 2024 ▪ 3 min of reading ▪ by Fenelon L.
Getting informed Altcoins

Recently, the XRP ecosystem has experienced remarkable growth with the arrival of 100,000 new investors. Despite this influx, Ripple’s crypto price remains stable. What are the prospects for XRP?

Entrepreneurs crypto et XRP

Ripple’s crypto facing growing demand 

The first 10 days of June saw an impressive increase in the number of XRP holders, with 100,000 new investors joining the ecosystem. However, the price of XRP does not yet reflect this increased adoption, fluctuating within a narrow range between $0.48 and $0.52.

Analysts are closely monitoring various metrics to assess the potential impact of this growing base of holders on XRP price dynamics. The mean dollar invested age (MDIA), which measures the average holding duration, is a key indicator. 

According to data from June 1st, the 90-day MDIA for XRP stood at 1812, indicating that investors prefer to hold onto their assets. Now approaching 2000, this increase in MDIA reflects a growing trend toward long-term investment among holders, potentially propelling the price of XRP to $0.55.

The circulation rate, which measures the number of tokens exchanged over a given period, is another important metric. This rate recently fell to 228.53 million tokens per day for XRP, indicating reduced sell pressure and a more stable pricing environment. However, a future increase in this rate could signal a resumption of sales and impact price dynamics.

Ripple expands its network

Ripple spares no effort in continuously expanding its network of partnerships with financial institutions around the world. The recent XRPL Japan and Korea Fund initiative is a perfect illustration of the company’s aim to accelerate its penetration into the Asian market, one of the most populous regions on the planet.

Building on a strong network of alliances already established with major banks in India, Canada, the UK, Brazil, and many other countries, Ripple is positioning itself as an essential provider of blockchain solutions for traditional financial institutions on a global scale.

The crypto company is also preparing for the upcoming launch of a stablecoin pegged to the US dollar, further strengthening its position in the digital assets market.

Ripple is resolutely moving in this direction despite the persistent regulatory challenges it faces, particularly with the SEC in the United States. These obstacles do not seem to hinder its determination to revolutionize the financial sector through blockchain technology.

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Fenelon L. avatar
Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.