XRP News Today: XRP Active Addresses Surge 69% as Price Rises 23.06% in 30 Days

XRP has recently reached a notable milestone that has sparked significant interest within the XRP community. According to Captain Redbeard, a well-followed cryptocurrency analyst on X, the number of active addresses on the XRP network has surged to over 1.69 million over the past 60 days [1]. This marks a substantial increase from the previous levels that largely remained below 1 million for most of the period. The data reflects a clear upward trend in user engagement and network activity, indicating a renewed level of participation in the XRP ecosystem [1].

The rise in active addresses is accompanied by a recent 23.06% price appreciation for XRP over the last 30 days, with the token currently trading at $2.77 [1]. While the analyst did not explicitly link the price movement to the network activity, the simultaneous development of both metrics is likely to capture the attention of investors monitoring the broader market dynamics. Analysts and community members have noted that such increased network participation can often serve as a precursor to broader adoption or intensified usage in decentralized applications [1].

In the past 24 hours, more than 500 million XRP tokens were moved across the network, a sign of sustained activity among large holders and institutional investors [2]. This high volume of movement appears to contradict the recent bearish price action, which saw XRP dip below the $3 level in mid-July. The divergence between on-chain activity and price performance suggests that the market may be consolidating rather than experiencing a prolonged downturn [2].

Technical indicators also provide mixed signals. The relative strength index (RSI) for XRP has retreated from overbought territory, currently hovering around 47, indicating that short-term selling pressure may be easing [2]. Furthermore, the volume of the recent decline has been relatively low compared to the explosive rally in July, reinforcing the idea that the market is in a consolidation phase [2]. Analysts suggest that the 26 EMA and 50 EMA lines may serve as key support levels in the near term, and a rebound above these could spark renewed bullish momentum [1].

Bollinger Bands analysis indicates that the price has moved out of the upper band zone and is now approaching the weekly midline, currently around $2.39. This positioning could signal a potential retest of the level in the coming days, with further downside risk if the support breaks [3]. Analysts urge XRP holders to remain cautious, noting that the current dip could be a temporary setback before the next upward movement [1].

The combination of strong on-chain metrics, cautious optimism from analysts, and the token's current price dynamics suggests a complex and evolving market environment for XRP. As the network continues to demonstrate increased activity, the focus remains on whether this momentum can translate into sustained price appreciation and broader adoption in the coming months [1].

Source:

[1] New XRP Milestone Stuns XRP Army (https://timestabloid.com/new-xrp-milestone-stuns-xrp-army/)

[2] XRP Says Goodbye to $3, But There's 500 Million Catch (https://u.today/xrp-says-goodbye-to-3-but-theres-500-million-catch)

[3] XRP Loses $3, and Bollinger Bands Have Bad News (https://u.today/xrp-loses-3-and-bollinger-bands-have-bad-news)