XRP is performing really well, and it rallied 91% in a month. Its performance is obviously due to a driving force behind it. It is currently competing with big sharks such as BTC (Bitcoin) and ETH (Ether). The XRP price rally was attributed to the increase in new unique addresses, the buybacks that are happening in Ripple, and Ripple’s possibilities of developing a new product.
The rise in unique XRP addressesYou can judge the performance of a cryptocurrency by checking on its addresses at it reflects its activity in the blockchain.
Ripple buybacks could increase its valueAt the start of Q3 in 2020, ripple had aggressive buybacks where it bought ripple worth$45.5 million. This is something the company has never done before. The company did that as a strategy of supporting a healthy market.
Ripple’s move to introduce a new productIt turns out that there is a cookie in the oven as Ripple plans to introduce a new product, Paystring. Its trademark application was made at the beginning of November at the United States Patent and Trademark Office (USPTO).
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