Ripple (XRP) has halted its losing streak, rebounding to surpass $0.5822. This rally is driven by several factors, including the overall strength of the crypto market, particularly Bitcoin (BTC).
XRP’s price gained momentum as the XRP Ledger saw a significant increase in both new and existing addresses, hitting levels not seen since March. Additionally, recent economic data and speculation about Federal Reserve rate cuts have boosted XRP’s price.
On July 18, the XRP Ledger recorded 1,721 new wallets in a single day, the highest since March 30, with active addresses reaching 47,363, the most since March 9. This surge in activity has helped stabilize XRP’s price.
Economic data showing a slowdown in inflation and speculation about Federal Reserve rate cuts have positively impacted market sentiment, potentially benefiting XRP.
