Volatility has been painted all over the cryptocurrency market. During the past several days, several assets have struggled, including Ripple [XRP]. The previous weekend saw a 10% decline in the cryptocurrency. After a daily decline of 0.70%, XRP was trading at $0.4348 at the time of writing. The asset has had a lot of difficulty reaching $0.50. Several think July will prove to be a positive month for the asset. However, can the current market trend interfere with its possible upswing?
According to Changelly, XRP is expected to witness a double-digit surge throughout the week. The altcoin will not only hit the $0.50 mark but also rise to a high of $0.592910 later this week. This will come after a 35% surge from its current levels. On July 15, 2024, XRP will reportedly trade around the $0.518407 zone.
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Ripple [XRP] User Activity Records Surge
2.3 million successful transactions were conducted on the XRP Ledger on July 8, according to on-chain statistics. Compared to the 2 million transactions the day before, this represented a 15% increase. Feb. 16 was the last time the network had a single-day transaction total this high. There has been a notable increase in demand for the decentralized public blockchain this month. The number of daily transactions on the network has increased by 97% since July 1.
In general, the rise suggests that the XRP network is being used and is being actively engaged with. It may also indicate that more people are using Ripple’s technology. This is done either personally or through financial institutions to make international payments.
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