XRP's On-Chain Activity Defies Bearish Sentiment

XRP has been struggling to regain its footing around the $1 mark, prompting bearish sentiment from traders. However, despite this negativity, on-chain activity suggests a different story is unfolding.

According to Santiment data, negative commentary surrounding XRP has reached a three-month high, indicating growing caution among traders. Meanwhile, the number of active addresses has surged to nearly 49,929 in 24 hours, marking a multi-month high.

This mixed picture raises questions about whether the price action and derivatives market are showing signs of a potential shift or whether sellers still hold the upper hand.

XRP's price remains bearish, but reclaiming the $1.023 level could set the stage for a reversal. If momentum strengthens, XRP could target the $1.17-$1.18 resistance zone.