XRP Network Surges 654.71%, Price Volatility Looms

The XRP network has seen an explosion in active addresses, with a massive spike recorded recently. According to Ali, a crypto analyst, active addresses rose from 47,180 to 356,070, a staggering 654.71% increase. This surge indicates a sharp increase in network participation, often accompanied by higher price volatility.

The timing of this increase is significant, given XRP's recent price movement. The cryptocurrency has risen nearly 49% weekly, its best performance since November 2024. Its price has also risen more than 71%, from $0.99 on August 19 to a high of $1.699 on August 22.

Coinbase options markets are pricing in potentially sharp moves across several major digital assets through August 30, with XRP carrying the widest expected range among Bitcoin, Ethereum, and Solana. Options traders are pricing in a much larger-than-usual move in XRP through Aug. 30, of up to 13.1%.

XRP's surge began after the Treasury announced it would buy back $4 billion or more of its own long-duration bonds on multiple occasions, clearing out bearish bets due to the price rise.