XRP has recorded a sharp increase in network activity in August even as its price remains under pressure, according to data from crypto analytics platform CryptoQuant. The number of active addresses on the XRP network has jumped by more than 84% since the start of the month.
On August 1, XRP recorded 23,642 active addresses. By August 11, that figure had climbed to 43,543, marking an increase of approximately 84.18% in just over a week. This suggests that more addresses are actively interacting with the XRP Ledger and points to rising on-chain participation among traders.
The network growth stands in contrast to XRP’s price performance. Data from CryptoRank shows that XRP has posted a negative return of -3.58% so far in August. While the divergence has made XRP one of the most watched crypto assets recently, analysts note that an increase in active addresses does not guarantee a price recovery. Still, sustained growth in network activity could reflect strengthening interest in the altcoin, which may eventually support demand.
