Santiment’s Social Indices provide an overview of Ripple’s price action over the past week. The increase in the price of XRP is partly due to the large redemption of address services in the past week. Social progress on Santiment coincides with temporary gains on the XRP network.
Data from Santiment shows that XRP has gained 6.2% in the last 24 hours as it moves in a different direction than most of the crypto markets. Some cryptos are still struggling at the moment, many ending the day on a bad note.
Santiment’s social analytics tool shows redemption in address work on the XRP network. This goes on for about a week and coincides with a frequent increase in social control.
Santiment’s Address Activity Index tracks the number of different addresses that join the network over time. From Santiment’s report, 136,000 addresses have participated on the XRP network within 24 hours. The past week saw spikes like this repeatedly, with one of the days recording an address activity of almost 146,000. XRP’s upgraded address function coincides with rising public governance indicators.
Ripple Report: A Focus on Real-World Utility, Exploring the Use Cases and Infrastructure of Crypto in the New Year
A metric that measures the relative size of an asset in relation to the public aggregate of other primary assets. Two important disruptions were found in the public domain, they interacted with the address function and the price behavior of XRP.
On Tuesday, Ripple released its report for the year. The report, titled “A Focus on Real-Word Utility,” says that many industry leaders expect crypto to focus on utility in the new year.
The report contains detailed information from Ripple executives explaining the application areas of crypto and infrastructure, rather than speculation. He also suggested that it would be a suitable approach to the emerging regulatory framework that is expected to face the industry following the 2022 disaster.
Current events on the XRP network suggest that the public may be buying into this new concept. It may be an indication of the direction that the company will take this year, creating new territories and expanding the base.