XRP Active Addresses Soar 655% as $1.70 Comes Back Into Focus

XRP network activity is exploding as active addresses surge more than 650%, coinciding with the token’s strongest price rally in months.

According to Santiment data, XRP active addresses jumped 654.71%, rising from 47,180 to 356,070. The move marks a major increase in network participation. The network chart showed activity below 50,000 just one week earlier before climbing above 350,000.

Notably, the surge comes as XRP has staged a major recovery from below $1.

XRP Price Surges 49% in a Week

XRP is trading around $1.50 after gaining roughly 49% over the past week. The token was changing hands near $0.9882 last week before accelerating higher and reaching $1.70 on August 22. 

That move represented a gain of more than 70% from the weekly low. Meanwhile, XRP has since pulled back from $1.70 but has largely stabilized around the $1.48-$1.50 area. 

Soaring prices and rising active addresses suggest more addresses are participating in XRP Ledger activity, capitalizing on the ongoing positive momentum.

ETF Demand

The surge in network activity is also happening alongside institutional demand through U.S. spot XRP ETFs. On Monday, XRP ETFs recorded $13.82 million in net inflows, according to SoSoValue data. 

Bitwise accounted for $8.25 million, while Franklin Templeton added about $4.01 million. Canary Capital recorded $1.57 million in inflows, while others, such as 21Shares and Grayscale, saw no new investment. Notably, cumulative XRP ETF net inflows have now reached roughly $1.57 billion.

The latest daily inflow follows a much stronger week for the products. XRP ETFs attracted $39.78 million during the week ended August 21, their strongest weekly performance since mid-May.

Futures Activity Also Explodes

Derivatives activity provides another indication of how dramatically XRP market participation has increased.

CryptoQuant data showed XRP futures trading volume across Binance, Bybit, OKX and Bitget reached $11.37 billion on August 22. That was the highest level since February 5.

The spike came shortly after large XRP withdrawals from exchanges surged to 231 million tokens, representing a 4.3-fold increase in 48 hours.

The timing is important because the jump in futures activity, large exchange withdrawals, and XRP price rebound all occurred within the same period. XRP had gained roughly 45% during the recovery, putting spot and derivatives activity at some of their strongest levels in months.

Together, the data show that the latest XRP rally has been accompanied by much greater market participation, not just a gradual price recovery.

Where’s XRP Price Headed?

The next challenge for XRP is turning the explosive rebound into a sustained move. XRP rising from about $0.99 to $1.70 and falling back toward $1.50 shows that sellers are still active. Now, the $1.70 level is important. If XRP breaks above it and stays there, the price could move higher. 

Canary Capital CEO Steven McClurg recently said he wouldn’t be surprised to see XRP reach $3.40 within the next year as more institutional lending, credit and yield opportunities develop on the XRP Ledger. 

However, he also warned that the crypto market is still in a bear market and that seasonal and political factors could cause more volatility.