XRP Price Shows Resilience as Ripple’s XRP Ledger On-Chain Metric Skyrockets 600%

During the turbulent market period, we can safely say that the XRP price showed resilience since it successfully protected crucial support at the $2.00-2.20 range and is now trading well-above this level at over $2.40.

The turbulent market period has seen the XRP price show resilience as it successfully protected crucial support at the $2.10-2.20 range and is now trading well-above this level at over $2.40. At the same time, the number of active XRP addresses has surged by 620% in the last week, which signifies increased engagement with the network.

This rise in activity coincides with broader market developments, including Ripple’s recent initiatives and the growing interest in the XRP Ledger’s technical capabilities.

XRP Active Addresses Soar By 620%

As highlighted by crypto analyst Ali, known on X as @ali_charts, there has been a significant jump in XRP active addresses over the past week. The analyst noted a 620% increase, with active addresses surging from 74,589 to 462,650. The data, sourced from Glassnode, showcases heightened participation in XRP transactions and potential growing adoption.

The number of active $XRP addresses has skyrocketed by 620% in the past week, climbing from 74,589 to 462,650!

This uptick is driven by some exciting developments in the crypto space. Ripple’s launch of the RLUSD stablecoin has attracted attention and consideration. Furthermore, the growing interest in the XRP Ledger’s technical capabilities adds momentum to the crypto’s current trajectory.

As of the time of writing, the XRP price trades for $2.43, demonstrating a 2.98% increase from the past day. Overall, XRP has seen a 5.52% rise in the last week, with trade volumes at approximately $8.23 billion. The main drivers of this positive trend are increased adoption and growing trust in the XRP ecosystem.

By market capitalization, XRP is now stable among the leading cryptocurrencies, indicating sustained investor interest, resilience, and room for expansion. This optimistic outlook is being sustained in large part by the XRP Ledger’s effectiveness and scalability.

Analyst Identifies Three Bullish Scenarios For XRP

Meanwhile, crypto analyst XForceGlobal has identified three bullish scenarios for XRP’s price trajectory using Elliott Wave Theory. The analyst highlighted that XRP’s resilience supports a predominantly bullish outlook.

suggesting that the first scenario, an ABC Flat, remains valid if the 3-3-5 wave sequence unfolds as expected. This setup suggests that Wave B could complete around the $3.90-$4.80 Fibonacci zone before setting up for another bullish impulse.

The second scenario, a WXY Correction, presents a bullish structure even with deeper corrections. XForceGlobal pointed out that as long as the XRP price action remains corrective, a bearish outlook is unlikely. The prior strong impulse move provides a solid foundation for further gains.

The third scenario suggests that Wave 5 is already in progress, although micro timeframes lack confirmation. If confirmed, this would be the most bullish outcome, signaling a continuation of XRP’s upward trend.

The latest surge in network activity and technical analysis suggest strong market confidence in XRP. Analysts continue to favor bullish scenarios, while increased adoption supports positive sentiment. The combination of increased user activity and bullish technical setups reinforces expectations of continued momentum.

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output: During the turbulent market period, the XRP price has shown resilience as it successfully protected crucial support at the $2.10-2.20 range and is now trading well-above this level at over $2.40. At the same time, the number of active XRP addresses has surged by 620% in the last week, which signifies increased engagement with the network.

This rise in activity coincides with broader market developments, including Ripple’s recent initiatives and the growing interest in the XRP Ledger’s technical capabilities.

As highlighted by crypto analyst Ali, known on X as @ali_charts, there has been a significant jump in XRP active addresses over the past week. The analyst noted a 620% increase, with active addresses surging from 74,589 to 462,650. The data, sourced from Glassnode, showcases heightened participation in XRP transactions and potential growing adoption.

The number of active $XRP addresses has skyrocketed by 620% in the past week, climbing from 74,589 to 462,650!

This uptick is driven by some exciting developments in the crypto space. Ripple’s launch of the RLUSD stablecoin has attracted attention and consideration. Furthermore, the growing interest in the XRP Ledger’s technical capabilities adds momentum to the crypto’s current trajectory.