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The XRP network witnessed a sudden increase in the daily active addresses (DAA) — the number of unique addresses involved in XRP transactions daily. XRP’s DAA has soared to its second-highest level in May, raising traders’ anticipation for a price rally.
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Attorney Fred Rispoli suggests the Ripple vs. SEC lawsuit is nearing its end and this has sparked a ray of hope among XRP investors. The SEC challenger crypto has increased by 9% in the week making consecutive bullish candles and gaining momentum along the way.
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Falling after forming a double top pattern close to the overhead resistance of $0.54, XRP prices retrace to the 50% Fibonacci level and project a sideways trend for more than 72 hours.
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XRP shoots 25% to break a matured resistance trendline with a phenomenal hike in volume reflecting a surge in buying pressure. Post-breakout, the trend seems to consolidate for Ripple but the growing adoption of XRP as the banks crash globally keeps the trend bullish inclined. So, will Ripple have a bullish 2023 summer?
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