XRP network added 4,941 new wallets in one day as price holds above $1 support

XRP continues to trade just above its crucial $1 support level, maintaining pressure despite a resurgence in network activity and improved investor sentiment. The price has recently settled into a narrow range between $1.00 and $1.05, which some investors are interpreting as an accumulation zone.

Network activity surges amid price pressure

Over the last 24 hours, XRP has gained 1.74%, trading around $1.05. During the same period, 24-hour trading volume reached $1.6 billion, while the market capitalization was recorded at $65.42 billion. Despite this uptick, the short-term price trend remains subdued.

Data from the analytics platform Santiment indicates that after hitting a 19-month low of $1.01, XRP stabilized near $1.04. Santiment is well-known for monitoring on-chain data and market behavior.

This increase—4,941 new wallets in just one day—represents the most significant expansion in the XRP Ledger’s user base in more than three months. However, it is still unclear if this spike will directly translate into buying pressure for the cryptocurrency.

Social sentiment data is also showing a more optimistic outlook. For every one bearish reaction, there were 3.7 bullish ones among investors, the highest ratio recorded in the past three months.

Analysts focus on $1.51 resistance

Crypto analyst Crypto Spaces observes that XRP is fluctuating just above its downward support line and remains below its 200-day moving average. According to the analyst, this scenario suggests sellers still hold sway over the market for now.

Mini glossary: The 200-day moving average is a technical indicator that represents an asset’s average price over the past 200 days. It’s commonly used to gauge long-term trends; when the price stays below it, a weak outlook may be indicated.

If this foundational support is maintained, XRP could stage a short-term recovery, and $1.51 is expected to be the primary resistance level to watch. Conversely, a break below the downward support line would likely trigger increased selling pressure and reinforce a bearish trend.

Broader market sentiment also plays an influential role in these dynamics. As positive momentum returns to crypto assets alongside the recent rise in Bitcoin, experts emphasize the importance of monitoring both network growth and technical indicators in evaluating XRP’s trajectory.

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