XRP is seeing a renewed surge in activity, with the number of active sending addresses hitting 12,230 daily—a six-month high.
This jump highlights a return of active users and signals increased engagement across the XRP blockchain.
XRP: Active Sending Addresses reaches a 6-month high
“The number of Active Sending Addresses on XRP reaches 12,230 on a daily basis… The increase signals that activity is returning to the XRP Blockchain.” – By @JA_Maartun
Link 👇https://t.co/8ejsxFt5wO pic.twitter.com/VnYPrHXjJb
— CryptoQuant.com (@cryptoquant_com) October 25, 2024
Meanwhile, Ripple is advancing on its legal front, filing a Form C to outline key issues it intends to address in its cross-appeal. As Ripple’s Chief Legal Officer emphasizes, the case doesn’t challenge XRP’s status as a non-security.
XRP, like Bitcoin, has unique clarity in being recognized outside the scope of securities, and the SEC has not contested this ruling.
The appeal will focus strictly on established records. The SEC won’t be able to present new evidence or request additional documentation, leaving Ripple’s favorable litigation record as the basis for the Appeals Court review.
This containment of the case within the existing record removes much of the drama and document disputes that characterized earlier litigation phases.
Ripple Not Concerned With The “Background Noise”
Ripple’s legal team underscores the SEC’s broader strategy to cloud the issue for Ripple and the industry, aiming to create distractions. However, Ripple views this as “background noise,” confident that the most challenging part of the battle is over. Ripple’s business continues to strengthen and grow, unfazed by the ongoing legal appeal.
Today, Ripple filed a Form C – listing the issues we plan to raise on our cross appeal. A few things to keep in mind as we move forward:
The case is not about whether XRP, in and of itself, is a security. XRP is uniquely situated as having clarity (alongside BTC) in not being… https://t.co/AmFocAnbPx
— Stuart Alderoty (@s_alderoty) October 25, 2024
As XRP’s blockchain activity rises and Ripple’s business operations progress, the legal landscape remains important but secondary to the company’s overall momentum.
The case now seems to pivot towards final legal clarifications rather than contentious litigation, positioning Ripple well for future growth, regardless of the ongoing appeal process.
The return of user activity and a stable legal outlook offer XRP holders and the crypto community a renewed sense of optimism.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: promesaartstudio/123RF // Image Effects by Colorcinch
