, the thirty-day performance was in double-digits decrease at 17.72%. Except for the stablecoins in the top ten, only XRP had a superb performance in the time frame mentioned above.Looking at the on-chain data, it can be found that the XRP may have contributed to the price increase until 23 September. On 6 October, it hit almost the same network growth level at 2267, according toAt these points, it revealed that more XRP holders were exploring the real-world utility of the token.
Per the thirty-day Market Value to Realized Value ratio, it was a similar circumstance but slightly different. According to the MVRV, XRP investors must have made good profits as of 23 September, when the ratio was 38.39%. Despite a fall to 1.50% on 2 October, the MVRV showed that more greens could be on the way. At the time of this writing, the XRP’s MVRV ratio was 6.22%.Besides the MVRV ratio and network growth, XRP had other aspects to thank for this increase. Some days back, there was an increase in the RippleHence, having XRP surge above its peers from the previous day may have been expected. Additionally, whales within the Ripple ecosystem seemed to have played their part with a few large transactions.
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