XRP Ledger Activity Surges to Near-Record High

The XRP Ledger has reached a significant milestone, with nearly 190,800 daily active users as of the latest on-chain data. This puts it close to 200,000 users, which would be one of its highest activity levels in months.

The increase in user activity has been steady throughout July, following earlier brief spikes. In contrast to the first half of the month when activity varied between 110,000 and 150,000 active users, XRP Ledger activity increased dramatically in the last trading week.

This growth is a positive indicator for the network, as it shows real engagement with the ecosystem rather than just price fluctuations. However, despite the strengthening fundamentals, the market has not yet fully reflected this improvement.

XRP's price remains stuck below its 50-day and 100-day moving averages at $1.07, indicating that the overall technical picture is still conflicted. The next significant obstacle for the long-term trend to shift in favor of buyers is the 200-day moving average at $1.21.