Unprecedented Market Movement: XRP Sees Sudden Shift in On-Chain Activity Following Price Surge

**XRP Sees Unprecedented Parabolic Growth in Wallets Following 253% Price Surge**

In a shocking turn of events, Ripple’s native cryptocurrency XRP has witnessed a parabolic growth in wallet activity, mirroring its impressive 253% price surge. This sudden and unprecedented increase in on-chain activity is a clear indication that the market is taking notice.

As recent as May and June, XRP was experiencing a downturn in transaction volume. However, Q3 saw an astonishing turnaround with transactions more than doubling compared to Q2. This growth was largely driven by microtransactions (less than 1 XRP), indicating a significant increase in daily active users.

This surge comes on the heels of Ripple’s recent Form C filing, which outlines the arguments it will bring forth in its cross-appeal against the SEC. While the SEC appeal does not challenge the court’s decision that XRP is not a security, this development should be seen as a significant positive for the cryptocurrency.

Ripple’s Form C filing highlights the company’s commitment to transparency and regulatory compliance, demonstrating its willingness to address concerns raised by the SEC. This increased transparency has undoubtedly contributed to the recent price surge and the corresponding increase in on-chain activity.

As the cryptocurrency market continues to fluctuate, investors are closely monitoring developments surrounding XRP. With Q3 showing a significant turnaround in transaction volume, it’s likely that we’ll continue to see an upward trend for the foreseeable future.

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Source: u.today