title: Even Though XRP Recently Dropped Below the Psychological Threshold of $2

Despite the recent volatility, the XRP network is growing stronger. Now reaching an all-time high of 6.26 million addresses holding 1 XRP or more.

The price of XRP, the fourth-largest cryptocurrency, recently dropped below the psychological threshold of $2 as a result of intensified volatility.

The price of XRP, the fourth-largest cryptocurrency, recently dropped below the psychological threshold of $2 as a result of intensified volatility.

However, the network of the token remains strong, with the number of addresses holding 1 XRP or more now reaching an all-time high, according to renowned market analyst Ali Martinez.

“Despite the recent volatility, the XRP network is growing stronger. Now reaching an all-time high of 6.26 million addresses holding 1 XRP or more.”

The number of interactions involving addresses with more than 1 XRP has also reached historical highs, which indicates higher user engagement and interest in the XRP network.

This trend might suggest that there might be more bullish volatility to come, thanks to the growing confidence and interest of investors.

Additionally, XRP’s futures trading volume has also been skyrocketing, reaching a monthly high of $21.62 billion, which showcases increased liquidity and high speculation or hedging activity.

Is XRP Staring at the Last Support Zone?

According to market insight provider Moon Pulse, “XRP is clinging to its last support zone. A bounce here? Could mean a strong reversal.”

XRP is clinging to its last support zone.

A bounce here 🧱 could mean a strong reversal. pic.twitter.com/2Z970u49t6

— Moon Pulse (@Pulse_Moon) August 17, 2023

Given that XRP is trading above $2, a bullish picture continues to be painted in its ecosystem, with optimism for an exchange-traded fund (ETF) also reaching high levels.

As a result, Kaiko analysts believe that an XRP ETF will receive approval from the United States Securities and Exchange Commission (SEC) before other top cryptocurrencies, such as Dogecoin (DOGE) and Solana (SOL).

This bullishness is further fueled by the fact that Ripple and the SEC have paused their lawsuit, opening the door for settlement talks.