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 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 price analysis
As of press time, XRP was trading at $1.78, a 9% drop in the last 24 hours. During the weekly timeframe, the token saw extended losses of 16%.
Given its short-term technical setup, XRP faces a monumental battle to reclaim the $2 mark. At its current price, XRP sits slightly above its 200-day simple moving average (SMA) of $1.76 but remains below the 50-day SMA of $2.38, indicating lingering downward pressure.
Despite the bearish sentiment and a neutral 14-day Relative Strength Index (RSI) of 43.27, XRP still has room to challenge the $2 level if the bulls can build stronger momentum.
A move above the 50-day SMA would serve as a key technical signal for a sustainable breakout, though the token will need strength from the broader market to support such a move.
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