Daily active addresses on the XRP Ledger have risen 71.7 percent over the past two weeks. Prices remain weak, but activity on the network has clearly picked up.

On June 28, blockchain outlet U.Today reported that, based on figures compiled by Ali Martinez (알리 마르티네즈) and Santiment, daily active addresses on the XRP Ledger increased from about 23,000 to more than 39,500.

The change moved in a different direction from XRP's price trend. XRP remains in a downtrend around $1.04 and is testing a short-term support line. Network participation indicators, by contrast, rebounded quickly. The outlet said “active addresses” reflect actual activity by unique wallets, not just speculative trading. It includes users moving funds, interacting with smart contracts and repositioning holdings on the network.

Markets view the sharp on-chain increase as a more leading change than a simple signal of a price rebound. The outlet pointed out that similar concentrated surges in the past have at times suggested whales' hidden portfolio rebalancing or a quiet accumulation phase. It also cited that large participants often move capital before actual commercial payment flows increase.

The divergence between technical indicators and on-chain indicators has also widened. XRP is currently trading below moving averages. The article said exponential moving averages are set at $1.12 and $1.24. Even as prices remain in bearish territory, underlying network indicators are rising, prompting assessments of a “strong divergence” between market value and chain usage.

In the cryptocurrency market, on-chain activity is often treated as a leading indicator. The outlet explained that market value generally follows network utility, and that a dormant blockchain struggles to sustain an uptrend for long. In that sense, the surge over 14 days draws more attention to changes in internal network liquidity than to a short-term price adjustment.

The key question going forward is whether this liquidity inflow leads to an actual price reversal. XRP remains on a bearish chart, but the network has effectively awakened, the article said. The market is watching how quickly this flow of funds can reverse the chart's decline and whether prices can again approach around $1.50, cited as the next key resistance level.