In the latest XRP news, the Ripple holding addresses hit a record high, reaching more than 6 million despite the recent price crash. It indicates that despite the prices falling, the investors are still accumulating the token at a lower value. In other words, it appears that the investors are betting on the long-term trajectory of Ripple’s native asset, especially after the successful XRP ETF launch in the US.
XRP News: Investors Confidence Soars As Ripple Address Hit Record High
The investors are keeping close track of the XRP news, especially with a flurry of developments happening currently. Besides, the latest updates on the XRP lawsuit amid the ongoing market downturn scenario have further fueled market speculations.
Amid this, the XRP Network has shown a remarkable spike, indicating sustained investors’ confidence in the asset.
XRP Network Hits ATH
As said, Ripple’s XRP network is witnessing massive growth in user activity. Over 6.26 million addresses now hold at least one XRP, according to on-chain analyst Ali Martinez. This marks an all-time high for the network and signals strong investor conviction even during volatile market conditions.
Meanwhile, Martinez highlighted this rise in a recent post on X, stating the XRP network is growing “despite the recent volatility.” The data indicates that holders are accumulating XRP, seeing the dip as a buying opportunity. Many view the token as undervalued, especially in light of Ripple’s recent wins and expanding ecosystem.
On-Chain Data Signals Bullish Road Ahead
Adding to the bullish sentiment, Martinez also revealed that XRP futures trading volume has surged. It reached a monthly peak of $21.62 billion across all exchanges. This jump in trading activity signals rising interest from institutional and retail investors alike.
Simultaneously, the ETF launch appears to be a major catalyst.
XRP ETF Launch Boosts Sentiment
On its first day, the 2x leveraged XRP ETF (XXRP) recorded $5 million in volume. Bloomberg ETF analyst Eric Balchunas called the debut “very respectable,” especially given the tough market conditions. He noted the fund’s performance places it in the top 5% of all new ETF launches. Besides, it also outpaced Solana’s equivalent ETF, which launched recently but saw far less volume.
The recent ETF launch in the US has injected fresh optimism into the XRP market. While XRP’s price remains under pressure, the launch success shows growing institutional interest.
Balchunas emphasized that XXRP’s debut volume was nearly four times higher than that of the 2x Solana ETF. This is notable, considering the broader market weakness and low retail sentiment. Although far behind Bitcoin’s ETF launch, the numbers signal that XRP is carving out its space in the ETF landscape.
However, despite the positive developments, XRP price today dipped nearly 9% and exchanged hands at $1.77. Besides, the XRP Futures Open Interest also fell 4% to $2.86 billion. Despite that, a recent XRP price analysis highlights three key reasons that might drive the Ripple price higher in the coming days.
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