XRP tests 300-week moving average as active addresses climb to record high

XRP price action hovers near critical support

At present, XRP is trading at $1.38, posting a 2.79% loss over the last 24 hours. The daily trading volume stands at $1.38 million, while the market capitalization is recorded at $87.14 billion. Despite the short-term decline, observers note that structural indicators could support a bullish narrative if recent support levels continue to hold.

EGRAG CRYPTO, a well-followed crypto analyst, noted that XRP’s price is nearing the rising 300-week moving average, which is considered a pivotal long-term technical marker. Historically, reclaiming and retesting this level has been linked to renewed accumulation and upward expansions during major market cycles.

A dip toward the $1.00–$1.10 region is not necessarily seen as bearish. If XRP can maintain support above the 300-week moving average and re-establish momentum, targets of $1.65 and resistance levels between $2.00 and $2.80 may come into focus.

Some analysts discuss the potential of even higher levels, with targets at $15, $27, and $50 discussed in case of a significant breakout. However, regulatory changes, particularly those tied to the Clarity Act, could introduce volatility and affect the path ahead.

XRP network activity reaches new peak

BankXRP, a digital asset market observer, reported a sharp rise in on-chain activity for XRP. The number of active receiving addresses recently hit 926,320, reflecting a significant increase compared to previous periods. Transactions per second have also risen, indicating a broader uptick in user engagement on the network.

Mini dictionary: BankXRP is a blockchain data analytics provider known for its research and analysis of XRP and related on-chain activity, offering insights into address activity and transaction flow within the XRP Ledger ecosystem.

The surge in both receiving addresses and transactions is interpreted by several market participants as evidence of renewed community interest. Yet, the catalysts for this trend remain unclear, and it is uncertain whether increased activity will directly fuel higher prices. Many traders are monitoring whether this momentum can persist in the coming weeks.

Recent data from BankXRP underscores a notable rise in on-chain activity for XRP as the number of active receiving addresses surpasses 926,000, reflecting significant growth in transaction engagement across the network.

Market sentiment cautious amid consolidation

Despite the bullish technical signals and strong network participation, XRP continues to trend downward in the short term. Broader market caution prevails, as Bitcoin’s recent consolidation places pressure on altcoins.

Traders are closely following whether XRP’s 300-week moving average will provide support and if the price can recover beyond the $1.65 resistance zone. A sustained increase in active addresses and transaction rates may encourage a shift in sentiment, but a lack of follow-through could stall recovery efforts.

A combination of growing addresses and transactions may offer a bullish trend for XRP, but if momentum falters, the trend could lose steam.

The outlook for XRP remains tied to both technical triggers and broader market dynamics, with regulatory factors also expected to influence volatility in the coming sessions.