ChainCatcher reported that according to Cointelegraph, the price of XRP has risen by 232% in the past 30 days, and its on-chain indicators also show a positive recovery for XRP. According to xrpscan data, the number of active accounts or independent senders on the XRP network increased from 15,592 on November 1 to 47,044 on November 16. The total number of active accounts doubled on average in November (an increase of 100%) from about 12,000 to 25,000 this month. Similarly, the number of new accounts activated by XRP ledger in November also increased significantly, indicating that a large number of new users have poured into the network.
Analysis indicates that the current target price for XRP may range between $1.95 and $2.05, but it is important to note that since November 16, the price and trading volume of XRP have shown an inverse correlation, suggesting that XRP is undergoing a distribution phase, and market traders may be looking to sell.
