XRP’s network activity explodes to a record-high
The post XRP’s network activity explodes to a record-high appeared on BitcoinEthereumNews.com.
After an extended bout with volatility, XRP’s network activity has hit an all-time high, a milestone likely to impact the asset’s price as it seeks to reclaim the $2 resistance level. The network has reached a record-breaking 6.26 million addresses holding 1 XRP or more, according to April 9 data from cryptocurrency on-chain analytics platform Glassnode. This data suggests that retail investors are increasingly betting on XRP, likely drawn by the asset’s affordability and optimism around future gains. XRP addresses with a balance of at least $1. Source: Glassnode XRP activity recovering from Q1 lows Notably, this uptick in participation comes after the XRP saw subdued activity in the first quarter of 2025 when the cryptocurrency received a major boost on the regulatory front as the Securities and Exchange Commission (SEC) moved to end the Ripple case. According to the Finbold Q1 2025 Cryptocurrency Market Report, the total number of XRP addresses surged by 528,997 in the first quarter, rising from 6,282,144 on January 1 to 6,811,141 by March 31. However, this growth in address count came alongside a notable decline in network activity. Specifically, the number of active XRP addresses dropped by 16,772 during the same period, falling from 39,515 to 22,743. This divergence indicates that while more users are accumulating or holding XRP, reflected in the rising address count, overall network participation slowed in early 2025. Retail investors are key in driving the XRP ecosystem despite the cooling activity. In fact, previous Glassnode data suggests XRP is outperforming Bitcoin in retail engagement. On April 3, the analytics platform reported that XRP is emerging as a retail favorite this cycle, with active addresses up 490% since the 2022 low, outpacing Bitcoin’s 10% increase, mainly driven by institutional inflows. $XRP has emerged as a new retail favorite this cycle, diverging…
Filed under: News - @ April 9, 2025 1:28 pm