XRP Network Activity Explodes, Putting $2 Price Target in Focus

XRP's network activity has seen an explosion of over 650% in just two weeks, with active addresses rising from 47,180 to 356,070. This surge in participation is accompanied by a significant increase in RLUSD volume on the XRP Ledger, which crossed $1 billion on August 30.

The growth in network activity has provided a stronger on-chain backdrop for the token's price rally, although it does not guarantee further price gains. The figures do not establish which applications are driving the surge in usage.

According to technical analysis, XRP needs to reclaim the $1.55-$1.60 area before it can reach stronger targets of $1.70 and $2. Currently, the token's immediate technical barrier sits around $1.41-$1.45, with a daily close above $1.45 opening a path towards $1.57.