+30,000 New XRP Ledger Users Recorded: Could It Be Foundation for Recovery?

After a decline, XRP is finally growing and stabilizing, and the most recent on-chain data indicates that underlying network activity may finally be catching up with the price.

The asset is still trading below important long-term resistance levels, but the ledger and chart structure suggest that momentum may change.

XRP's short-term resistance test

In terms of price, XRP has recently tested short-term resistance close to the 50 EMA, pushing toward the $1.45 zone. Even a brief break above this level indicates improving short-term strength because it has served as a reliable rejection point over the previous few months.

XRP/USDT Chart by TradingView

Higher lows have been forming since early February, which suggests that buyers are intervening at ever-higher levels as selling pressure gradually wanes. This move is more significant because of the on-chain activity that goes along with it. Over 30,000 new active accounts have been added to the XRP Ledger in a comparatively short amount of time, and the overall number of active users is still high, hovering between 150,000 and 200,000.

This type of increase in participation, whether from retail users, transactional flows or speculative positioning, is indicative of renewed engagement and is not noise. In the past, XRP's upward trends have been largely dependent on spikes in network activity. Even though the price has not fully reacted yet, the current increase indicates that capital and attention are returning.

Moving in right direction

Larger directional changes are frequently preceded by this divergence between on-chain growth and price stagnation, particularly when coupled with a strengthening technical structure. Still, this is not a perfect bullish setup. XRP is still below its 100 and 200 EMA levels, which are still sloping lower and supporting the general downward trend.