🚀 $XRP Attracts 100k New Investors in June: Ready for the Explosion?
The XRP ecosystem has recently witnessed a significant surge, welcoming 100,000 new investors. Despite this remarkable growth, Ripple’s crypto price remains stable. What does the future hold for XRP?
🔸 Growing Demand for Ripple’s Crypto
In the first 10 days of June, the number of XRP holders saw an impressive increase, with 100,000 new investors joining the ecosystem. However, the price of XRP has yet to reflect this increased adoption, fluctuating within a narrow range between $0.48 and $0.52.
Analysts are closely monitoring various metrics to assess the potential impact of this growing base of holders on XRP price dynamics. One key indicator is the mean dollar invested age (MDIA), which measures the average holding duration.
According to data from June 1st, the 90-day MDIA for XRP stood at 1812, indicating that investors prefer to hold onto their assets. Now approaching 2000, this increase in MDIA reflects a growing trend toward long-term investment among holders, potentially propelling the price of XRP to $0.55.
Another important metric is the circulation rate, which measures the number of tokens exchanged over a given period. This rate recently fell to 228.53 million tokens per day for $XRP , indicating reduced sell pressure and a more stable pricing environment. However, a future increase in this rate could signal a resumption of sales and impact price dynamics.
🔸 Ripple Expands Its Network
Ripple is relentless in its efforts to expand its network of partnerships with financial institutions worldwide. The recent XRPL Japan and Korea Fund initiative exemplifies the company’s aim to accelerate its penetration into the Asian market, one of the most populous regions on the planet.
Building on a strong network of alliances already established with major banks in India, Canada, the UK, Brazil, and many other countries, Ripple continues to solidify its global presence.