Ripple’s XRP [XRP] may be seeing its retail traders come back! That’s not all either as not only are its trading volumes rising, but the market is turning bullish too.
Now, while the token has seen some pullback since, this could be the start of a bigger move.
XRP retail activity is back near previous turning points
At the time of writing, CryptoQuant revealed a rise in trading frequency from smaller traders. This usually happens near major price swings for the token.
There were multiple periods where “too many retail” signs were followed by chaotic moves and reversals. A similar jump has now come up, with XRP going above $1.5 before slowing down again.
What’s interesting is that this isn’t happening in isolation.
Bullishness depends on buying demand
That is where the bigger picture becomes important.
Analyst Crypto Patel pointed out on X that XRP’s current range between $1 and $0.70 looks similar to accumulation phases of the past; the ones that came before larger moves. He marked the lower area as a key buying zone, while also showing upside targets near $5, $10, and $15… if pace returns in full force.
Here, what’s also notable is that Santiment data added to the bullish case.
XRP Ledger recently recorded 48,453 active XRP wallets – The highest since 30 March. It also saw 3,317 new XRP wallets created, the highest since 19 March.
The recent price move was clearly more than just a chart breakout.
Of course, part of this activity can come from price FOMO, especially after XRP moved above $1.54 for the first time in two months. However, higher active addresses and network growth usually matter because they show more users are actually transacting on the network.
So, the key question now is this – Can XRP hold this spike while the price cools down? If yes, then this recent pullback could be another buying phase before the next big move.
Final Summary
XRP retail trading activity is on the rise again.
XRP Ledger recorded 48,453 active wallets and 3,317 new wallets – A good sign for the network.
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