Key Takeaways
- Rebounding active addresses suggest potential price stability for XRP after a weekend decline.
- Ripple’s Q1 report highlights growing institutional demand and investor confidence.
- Technical support at $2.06 may prevent further drops, with resistance levels at $2.30 and $2.80 in sight.
XRP’s Resilience Amid Market Fluctuations
As of the latest data, XRP trades at $2.09, reflecting an 8.46% weekly decline. Despite this, on-chain metrics from Glassnode indicate a resurgence in network activity, with active addresses climbing to 31,352 after a weekend low of 28,376.
Why Active Addresses Matter
Active addresses measure unique wallets transacting on the XRP Ledger. A rising count often signals:
- Increased adoption
- Potential price recovery
- Stronger network utility
👉 Explore XRP’s latest on-chain trends
Ripple’s Q1 Report: Institutional Demand Rises
Ripple’s quarterly update underscores positive momentum post-SEC lawsuit resolution, citing:
- Renewed investor confidence
- Higher institutional XRP purchases
- Commitment to transparency
CEO Brad Garlinghouse emphasized:
"Regular updates and clarity around XRP remain our priority."
Technical Outlook: Strong Support at $2.06
XRP’s daily chart reveals critical levels:
- Support: $2.06 (defended by bulls)
- Resistance: $2.30 (breakout could target $2.80)
- Downside risk: $1.62 if selling pressure intensifies
Price Scenarios:
| Scenario | Target | Likelihood |
|----------|--------|------------|
| Bullish | $2.80 | Moderate |
| Neutral | $2.05–$2.21 | High |
| Bearish | $1.62 | Low |
FAQs
Q: Can XRP’s price drop below $2?
A: Unlikely if active addresses and institutional demand continue growing.
Q: What drives XRP’s current stability?
A: Network activity rebound and Ripple’s positive Q1 developments.
Q: Is $2.80 achievable soon?
A: Possible if XRP breaks the $2.30 resistance convincingly.
Conclusion
XRP’s combination of rising network metrics, institutional interest, and strong technical support positions it for potential gains. Monitoring the $2.06–$2.30 range will be key for short-term traders.
👉 Stay updated on XRP’s market movements
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