- A falling channel pattern drives the mid-term correction in XRP price.
- Non-empty XRP wallets crossed a 13-year high of 7.7 million, signaling renewed engagement across the network.
- The XRP cryptocurrency witnessed renewed speculative force as open interest climbed to $2.87 billion.
On March 16th, the XRP price recorded a 6.5% surge to current exchange hands at $1.55 market value. The uptick followed the footsteps of Bitcoin as it reclaimed $75,000 amid easing geopolitical tension in the Middle East, including volatility in oil prices. However, the recovery in XRP price gained additional momentum from record growth in on-chain activity, bolstering a potential breakout in near term.
XRP Price Jumps on Strong User Participation Growth
The crypto market witnessed a notable uptick of roughly 1% and reached a market cap of $2.54 trillion. The primary catalyst to this surge came after broader market stabilizing from easing geopolitical tension and conflicts at Strait of Hormuz.
Along with market support, the XRP price gained additional traction as on-chain data shows improving user participation.
According to Santiment data, the XRP Ledger has seen more than 7.7 million non-empty wallets, which is a record for the network when it was launched over 13 years ago.
In addition, the number of daily active addresses reached its highest numbers on March 16th, with 46,767, the highest count in 5 weeks. That same day, the token shot over 14% in price over the previous two days as it crossed the $1.60 mark amidst increased network activity as monitored by on-chain analytics platforms.
These developments are coinciding with the wider increases in transactions activity and wallet activations across the ecosystem.
In the last two weeks, the derivative trading has also paced up. According to Coinglass data, the open interest associated with XRP’s futures contract has surged from $2.11 billion to $2.87 billion.
The surge suggests renewed interest from future traders as they position themselves for a potential move in XRP. If the trend continues, the altcoin would gain speculative push in the market, further strengthening its price for stronger recovery.
XRP Price to Attempt a Breakout From Multi-Month Correction
Over the past week, the XRP price has rallied from $1.32 to $1.5, registering a gain of 8%. The daily chart analysis shows that an ascending trendline current supports the bullish upswing with dynamic support.
Despite the prolonged FUD (Fear, Uncertainty, and Doubts) due to the Middle East crisis, the XRP price held strong above the support, gradually supporting to challenge overhead resistance.
The momentum indicator RSI (Relative strength index) up at 60% further reinforces the bullish narrative in price for prolonged recovery. With sustained buying, the XRP price could increase another 15-16% and challenge the resistance trendline of a falling channel pattern.
Since July 2025, the parallel-walking trendline of the pattern has bolstered a steady downtrend in XRP. Therefore, a potential breakout from this barrier could bolster buyers to chase higher levels at $2.4.
That said, the overhead trendline has so far acted as a major rejection for XRP price and therefore, the market participants could witness renewed selling pressure at this barrier. If the supply pressure persists, the prices could develop a reversal pattern to extend its prevailing downtrend.
