PHP MySql - Verifique se o valor existe

$email = $_POST['email'];
$acticode = $_POST['code'];


$result = mysql_query("SELECT * FROM xActivate WHERE EMAIL_ADDRESS='$email' AND ACTIVATION_CODE='$acticode' LIMIT 1");
$data = mysql_fetch_row($result);
 if (mysql_num_rows($result) > 0) {
    echo 'Code is valid';
} else {
    echo 'Code is NOT valid';
}

$email = mysql_real_escape_string($_POST['email']);
$acticode = mysql_real_escape_string($_POST['code']);