XRP Ledger User Base Grows 7x — Will a Price Jump follow?

• The XRP Ledger has seen its daily active addresses rise sevenfold, from 35,000 to over 295,000, in just one week.
• The whale wallet count jumped to an all-time high of 2,700, suggesting a rise in stakeholder adoption.

A new report shows that the XRP Ledger (XRPL) has seen an unexpected surge in activity over the past week. Daily active addresses increased remarkably from an average of 35,000 to over 295,000. This massive growth has renewed attention on the XRP network and raised questions about whether the coin price will soon respond.

Whale Activity Signals Stronger Network Confidence

Data from Santiment shows that the XRP Ledger user base has expanded rapidly, suggesting growing trust and interest in the protocol. This increase in network activity coincides with a major milestone: the number of wallets holding over one million XRP has reached an all-time high of 2,700. 

It is important to add that this figure is the highest in the protocol’s 12-year history and hints at growing participation by institutional players and large holders. 

Also, as these large accounts increase, they will likely view XRP as a long-term play. This also indicates a broader shift in how crypto assets like XRP are seen. It will show that they are either tradable coins or strategic reserves. 

As we covered in our latest Data from Santiment, a clear example was when VivoPower, a publicly listed firm, revealed a partnership with the Flare blockchain. This collaboration aims to generate yield from XRP holdings. The company had invested $121 million in XRP in May, making it the first to build a treasury focused entirely on the coin.

Meanwhile, XRP is trading at $2.20 at the time of writing. It has moved between $2.10 and $2.32 in the last week, with a 0.10% increase in 24 hours. In an earlier update, we covered that the Ripple coin surge once came with a 50% upside in daily trading volumes crossing $2.56 billion.

However, new data from CoinMarketCap shows that the trading volume has surged 157.23% in 24 hours, which points to heightened interest and speculation. Amid the growing hype around the XRPL, an earlier CNF report hinted that the chain was gearing up to launch its Ethereum-compatible sidechain by the end of Q2.

Technical Indicators Reflect Mixed Sentiment in XRP Trading

Despite the growth of the XRP Ledger user base, price action has yet to show a strong upward breakout. The 4-hour chart shows a pullback after touching a local high of $2.35, with the RSI cooling to 42 and the MACD flipping bearish. 

The current outlook suggests that bullish momentum is fading in the short term. Support is holding at $2.21; unless that level breaks, a rebound toward $2.30 may be possible.

On the daily chart, indicators remain neutral. RSI stands around 53, showing no clear bias, while the MACD line has crossed above the signal line. Based on historical trends, this is often seen as an early sign of upward movement.

With the XRP Ledger user base growing rapidly and whale activity rising, traders are closely watching for signs that the price will soon catch up. Additionally, as indicated in our earlier report, Ripple has launched a new grant program tied to the XRP Ledger for promising early-stage Web3 startups in Japan, a move set to boost adoption.

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