XRP Holders Double Down on the Token Despite Price Weakness, Network Adoption Metrics Show Strength

This pattern suggests that more users may be acquiring XRP during price dips, possibly viewing current levels as a chance to buy at a cheaper rate

The cryptocurrency market has witnessed an influx of traders adopting a long-term perspective, especially as the tokens' prices appear to be floundering.

According to the latest data from Glassnode, the number of XRP addresses has reached a new all-time high of 6.26 million.

As highlighted by analyst Ali Martinez, this pattern suggests that more users may be accumulating XRP during price dips, viewing current levels as an opportunity to buy at a cheaper rate in anticipation of future price increases.

This interpretation aligns with the growing bullish sentiment surrounding the token, signaled by developments in Ripple's case with US regulators, which appears to be nearing its conclusion.

"Buy the rumor, sell the news" they say. After months of anticipation, the SEC and Ripple have agreed to settle the case.

The crypto lender is shutting down and returning funds to users.

Together, these events mark a turning point for the industry.

— Ali Martinez (@Ali_Chart_Talk) March 29, 2025

Many XRP supporters view this development positively as it will free the cryptocurrency from the legal uncertainty that has stymied its growth relative to other top cryptos.

Additionally, rumors of the US Treasury including XRP in their strategic crypto stockpile have also boosted the altcoin's appeal within the crypto community.

Despite the market volatility, the token's supporters remain invested in its long-term future and growth potential.

XRP was trading at $1.82 at the time of writing, recovering from a $1.61 yearly low earlier this week. The bearish pressure remains largely intact on the cryptocurrency, even though most users expect a trend reversal soon.