As the price of XRP cleared major resistance levels over the past 24 hours, on-chain data indicate that network activity has surged to record highs, particularly in user participation and overall adoption.
In this context, the number of non-empty wallets on the network has climbed above 7.7 million for the first time in its more than 13-year history, according to on-chain data shared by Santiment on March 17.
This expansion reflects a steady increase in holders over recent months, with the data pointing to a consistent upward trend in total addresses even during periods of price consolidation.
At the same time, daily network usage has accelerated notably, with active addresses surging to 46,767, marking the highest level recorded in five weeks. The spike in activity stands out, signaling renewed engagement across the network after a quieter period in late February and early March.
Further insights from the data show that while active address counts have been volatile, the broader trend in total holders remains firmly upward.
This divergence indicates that even as short-term usage fluctuates, long-term accumulation and adoption continue to strengthen the network’s foundation.
XRP price rebound
This uptick in participation has coincided with a strong price move. XRP advanced by approximately 14% over a 48-hour period, pushing its price above the $1.60 level at one point.
Notably, the short-term move has allowed the token to overtake Binance Coin (BNB) and reclaim the fourth-largest cryptocurrency ranking by market capitalization.
The rally followed a clean technical breakout above $1.45, triggering short covering and fresh buying interest amid a broader market recovery led by Bitcoin.
Analysts attribute the strength to steady inflows into spot XRP ETFs, which have now exceeded $1.4 billion since launch, as well as to positive Ripple developments, including its recent selection as a launch partner in Mastercard’s Crypto Partner Program, and to the broader crypto market rally.
XRP price analysis
As of press time, XRP was trading at $1.51, up about 2.5% over the past 24 hours, and has gained more than 7% on a weekly basis.
At the current price, XRP is trading just above its 50-day SMA of $1.48, suggesting short-term support remains intact, and price momentum has not fully broken down. However, the much higher 200-day SMA at $2.16 indicates the broader trend is still bearish, with XRP trading well below its long-term average.
The RSI at 62.55 indicates neutral-to-mildly bullish momentum, suggesting buying pressure exists but is not strong enough to signal overbought conditions or a decisive uptrend.
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