XRP Ledger Sees Surge with 4,300 New Wallets, Yet Price Remains Stagnant
By Abdus Salam
2 Views
The XRP Ledger is witnessing a remarkable surge in network activity, registering the addition of 4,300 new wallets within just 24 hours. This influx reflects an increasing interest in the digital asset, yet the price of XRP remains stubbornly constrained below crucial resistance levels, raising questions among analysts and investors alike.
According to data analytics firm Santiment, this recent surge represents the fourth-largest growth spike in the XRP Ledger this year. On May 20, newly created XRP wallets shot up from approximately 2,500 to 4,300, while daily active addresses soared from 32,000 to 43,520. "XRP is experiencing one of its largest network growth phases this year," Santiment noted, highlighting that such developments typically signal potential reversals in market trends.
Despite these promising metrics, XRP's trading price has slipped 1.5% in the last 24 hours, currently hovering around $1.35. This performance starkly contrasts its all-time high of $3.66 achieved in July 2025, leaving it 62% below that peak. Analysts point to a significant overhead resistance zone between $1.40 and $1.55, which has effectively capped the price trajectory since early February.
The recent upswing in wallet creation also correlates with a surge in institutional interest, especially through exchange-traded funds (ETFs). Currently, U.S.-based spot XRP ETFs represent approximately 1.34% of the entire XRP supply, buoyed by $107.3 million in inflows this May alone, which marks a consistent positive trend over the last twelve days.
Nonetheless, the resistance level at $1.40, which aligns with critical moving averages, suggests a prolonged period of consolidation ahead for XRP. Many investors currently hold roughly 3.75 billion XRP at an average price between $1.37 and $1.45, indicating a potential profit-taking scenario that could further hinder upward momentum.
Furthermore, another significant supply zone exists at $1.68 to $1.70, where approximately 3.8 billion XRP were purchased. This could act as a formidable barrier to future price advances, underlining the complex dynamics between market sentiment and resistance thresholds.
As it stands, the market watches closely to see if XRP can break past these resistance points, which would not only signify a strong recovery but could also trigger a rally toward potentially higher valuations. With an overarching need for sustained demand, XRP's future in this volatile landscape remains to be seen.
Source: Cointelegraph