XRP Price Eyes $2 as Network Activity Surges Amid Corrective Phase
XRP's price has been correcting after a strong month, but one key metric is flashing bullish signals. Despite shedding about 5% over the past week, XRP remains up roughly 31% for August. The recent surge in network activity, with receiving addresses jumping to 926,000 and transaction rates climbing 151%, suggests stronger blockchain activity supported the rally.
The sharp rise in active addresses, up more than 650% in just two weeks, came alongside XRP's recent price increase. If this momentum continues, XRP could potentially reclaim the $1.55 to $1.60 resistance zone and open a path toward $1.70, $1.80, and eventually the psychologically important $2 level.
However, the market is currently experiencing uneven risk appetite, with Bitcoin sitting just under $78,000 on Monday morning. XRP's next move may depend on whether it can decouple from Bitcoin's price fluctuations.