XRP Network Activity Surges by 655%, Hints at Volatility Ahead
XRP's network activity has seen a significant spike in recent times, with active addresses rising by 654.71% from 47,180 to 356,070, according to crypto analyst Ali.
This surge in network participation is typically accompanied by higher price volatility, which could have implications for XRP's future performance.
The timing of this increase is also noteworthy, given that XRP's price has risen nearly 49% weekly in its best performance since November 2024.
XRP's price surge began after the Treasury announced it would buy back $4 billion or more of its own long-duration bonds, leading to a significant amount of bearish bets being cleared out due to the price rise.
Options traders are pricing in potentially sharp moves for XRP through August 30, with a range of up to 13.1% predicted.