XRP Price Saw a 400% Spike in Network Activity After the SEC Dropped Its Ripple Lawsuit

XRP continued to trade near $2.45, holding firm after facing rejection at $2.60 earlier this week. Despite macroeconomic headwinds, on-chain data

The price of XRP saw a 400% increase in network activity as the SEC dropped its appeal against Ripple, opening up possibilities for a 2025 ETF launch and new highs for active addresses.

Among institutional investors, "whales" displayed persistent accumulation, aggregating over $14 billion in XRP.

After a period of sustained bullish momentum that propelled XRP to new 18-month highs, the token encountered resistance around the $2.60-$2.70 zone, leading to some price setbacks.

Despite macroeconomic headwinds and a slight decrease in trading volume, on-chain data from Santiment suggests investors remain engaged.

New High for Active Addresses

Data from Santiment reveals a more than 400% surge in XRP's daily active addresses since early March.

The increase, which brought total active addresses to over 627,000—the highest since April 2023—suggespivotal role in bitcoin’s price action.greater participation from retail and institutional wallets.

Ali Martinez, a crypto analyst at Santiment, noted the spike in a post on X, highlighting that the XRP network "lights up" amid fresh price momentum.

Also, on Thursday, April 27, Dormant Circulation reached its lowest point in 2024.

suggesting decreased sell-side pressure as long-term holders curtailed their distribution.

Last Shot at Appeal in Case

The SEC dropped its appeal against a lower court ruling in December that largely favored Ripple in its lawsuit. The agency had sued Ripple in 2024, claiming the company sold unregistered securities.

The agency is now likely to pursue an administrative case against crypto exchange Binance, which could have broader implications for the industry.

After the agency withdrew its appeal, lawyers specializing in digital assets highlighted the implications for a potential exchange-traded fund (ETF).

The lower court ruling had paved the way for new optimism over an XRP ETF approval in 2025, considering the factor that the SEC has already approved several institutional bitcoin and ether (ETH) products.

However, despite the appeal withdrawal, Judge Analisa Torres’s injunction on Ripple to sell XRP to institutional clients remains in place, presenting another key factor.

Greater Than 1 Million to 10 Million

Large wallets continued accumulating even as prices cooled from their mid-week high.

Still, wallets with 10 million to 100 million XRP showed mixed behavior—some accumulating, others distributing—suggesting uneven sentiment among large holders.

The ongoing accumulation aligns with optimism over regulatory clarity. With the SEC dropping its lawsuit appeal and crypto exchange Bitnomial withdrawing its complaint against the agency, speculation over Ripple’s institutional positioning has intensified.

But as lawyer John Deaton told CoinTelegraph, an injunction by Judge Analisa Torres continues to block the firm from distributing XRP to institutional clients.

“If Ripple wants to issue XRP to banks in America, that injunction is the hang-up.”