XRP Active Addresses Hit Highest Level Since April 2023 – Will Price Follow?

XRP is exchanged above crucial support levels and shows signs of strength since the wider cryptocurrency market fights with persistent sales pressure and macroeconomic winds. While many digital resources have undergone steep corrections in recent weeks, XRP has remained one of the most resilient artists, keeping above the key technical areas and attracting a growing interest of investors.

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With the feeling of the market that is slowly recovering, many traders are observing XRP as a potential leader in the next wave of earnings. Analysts believe that once the market has been stabilized, XRP could be among the first Altcoins to go back towards the previous highs. This optimism is supported by new chain data.

According to Glassnode metrics, the XRP network recorded almost 627,000 active addresses. This increase in the use of the network suggests a growing interest and adoption, a bullish sign that often precedes the acceleration of prices. The high address activity generally indicates that more users who interact with the network, through transactions, accumulation or trading.

If the wider market conditions improve, this peak of activity could further feed the rise to XRP. At present, XRP is positioned well above its key support range and seems prepared for a breakout once the bullish momentum returns to the market.

The activity of the XRP network increases the bulls defend the key levels

Macroeconomic uncertainty and growing volatility continue to shake both the markets of cryptocurrencies and the actions, fueling the widespread fear and triggering the sale of panic among the classes of activity. The concerns of the commercial war of the United States, the inflationary pressure and the irregular policy moves have maintained investors at the limit, leading to deep corrections in most cryptocurrencies. However, in this uncertainty, XRP stands out with a surprising resilience.

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Compared to the main Altcoins such as Solana and Ethereum, who have undergone significant losses, XRP remains at a strong technical level. The bulls have managed to defend the areas of key demand and the current attention is paid to the recovery of critical supply areas to validate a new rise in the rise. The ability of the activity of maintaining support despite the weakness at the market level has attracted the attention of analysts and investors.

The analyst of the best Ali Martinez shared the data on Glassnode chain, revealing that XRP’s network activity is increasing. With almost 627,000 active addresses, the highest since April 2023, XRP shows signs of renewed adoption and use. Historically, the peaks in the active addresses are related at the rise at the time, since the growing participation generally reflects the trust of investors and the transactional demand.

If XRP maintains its support base and continues to show strength in the fundamentals of the network, it could be one of the first Altcoins to burst once the feeling of the market recovers. The increase in active addresses can be a first indicator that a larger move is on the horizon.

The price is strong after a small rally – eyes set on $ 3 breakouts

XRP is exchanged at $ 2.41 after a few days flown acute oscillations between support and resistance. The token has increased by over 33% from the recent minimum to $ 1.89, showing a strong bullish momentum despite the uncertainty at the market level. This rebound has placed XRP among the most performing activities in the cryptocurrency space, attracting renewed attention from traders and analysts.

The level of $ 2.30 is now a short -term key support area. If XRP is superior to this level, bulls are likely to push towards the psychological sign of $ 3, which also aligns with an area of ​​historical resistance. A clean breakout above $ 3 could open the doors to a manifestation towards the maximum distance and potentially new maximums, depending on the wider market feeling.

However, if XRP is unable to maintain support to $ 2.30, it is possible to pull in lower demand areas around $ 2.00 levels or even $ 1.89. This would probably slow down the rhythm of any recovery and increase the short -term sales pressure.

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For now, the price structure of XRP remains bullish, but the maintenance of the momentum will depend on the detention of the key levels as the largest market stabilizes. All eyes are at the next move.

First floor image from Dall-E, TradingView chart