The number of active addresses on the XRP network rose 24.1 percent in 24 hours, even as XRP prices remained weak. Network activity expanded while selling pressure and traders exiting positions kept the token near recent lows. On-chain data showed active addresses rising to 34,318 from 27,665, and daily active addresses on the XRP Ledger approaching 50,000, the highest in two months.

XRP remains weak around $1, but on-chain indicators point to possible bottom formation as network activity rises while exchange-related fund flows and derivatives leverage ease. The network processed 2.6 million payments on Aug. 5 and total transactions topped 2.8 million, up 86 percent from a week earlier. Exchange inflows and outflows fell sharply, which one analyst said could reduce selling pressure. Technical resistance remains above current prices.