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XRP Surges to $1.09, Here Are Possible Reasons from Santiment

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Thu, 08/12/2021 - 08:10
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Yuri Molchan
Recently shared analytics data shows that XRP is decoupling from Bitcoin and growing along with network activity and emergence of new addresses
XRP Surges to $1.09, Here Are Possible Reasons from Santiment
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Santiment data vendor has tweeted that as XRP has shown an 18 percent rise earlier today, it has been decoupling from Bitcoin and the rest of the cryptocurrency market.

The analytics team tweeted that a further rise in the daily interaction of unique addresses along with the emergence of new wallets on a daily basis is likely to push the price rally of the sixth-largest cryptocurrency a lot higher.

On Aug. 11, XRP managed to surge as high as the $1.09 level from $0.80 briefly (showing an almost 24 percent spike), and then it rolled back. At press time, the Ripple-affiliated cryptocurrency is changing hands at $1.01415.

Earlier, U.Today reported that Ripple had partnered with major payments provider in South Korea, GME Remittance, via its partner, SBI Ripple Asia. The goal is to improve the system of payments from South Korea to Thailand.

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On July 28, the fintech giant Ripple also announced the launch of a new ODL corridor from Japan to the Philippines. Both events contributed to the recent XRP rally.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.