Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
XRP has seen an increase in network activity as a massive spike was recorded in active addresses.
In an X post, Ali, a crypto analyst, noted an explosion in XRP network activity with active addresses rising from 47,180 to 356,070, a 654.71% spike. This spike has implications; it indicates a sharp increase in network participation, which is usually accompanied by higher price volatility.
The timing of the increase is still significant given XRP's recent price movement. XRP's price has risen nearly 49% weekly in its best performance since November 2024.
The payments-focused cryptocurrency rose more than 71%, from a low of $0.99 on August 19 to a high of $1.699 on August 22, beating Bitcoin, Ethereum, which are up nearly 24% and 31%, respectively, while SOL has rallied above 31%.
XRP's surge began after the Treasury said it would buy back $4 billion or more of its own long-duration (10- to 30-year) bonds on multiple occasions, with a significant amount of bearish bets cleared out due to the price rise.
XRP could swing 13.1% as Coinbase options hint at volatility
XRP rose for five consecutive days from August 19 to 23, at one point reaching $1.699. The price slightly retreated, rebounded, and surged to a high of $1.55 early Tuesday. At the time of writing, XRP was trading at $1.48, as options hint at potential volatility for the rest of the month.
Crypto options markets are pricing in potentially sharp moves across several major digital assets through August 30, with XRP carrying the widest expected range among Bitcoin, Ethereum, and Solana.
Coinbase Markets shared this in a recent post: "Crypto options imply these 1σ moves through Aug 30: XRP ±13.1%, SOL ±11.2%, ETH ±9.7%, BTC ±6.7%. XRP carries the widest premium to its median 7d move (2.65×), which market delivers?"
That means options traders are pricing in a much larger-than-usual move in XRP through Aug. 30, of up to 13.1%. That move could be higher or lower, as a 1σ range is not a directional prediction, but rather an indication of the magnitude of the move the options market is pricing in.
U.Today Editorial Team
Dan Burgin
