XRP Ledger has surpassed 96.7 million ledgers, marking consistent network growth since 2022.
XRP trades at $2.16, maintaining support at $2.10 with resistance near $2.25.
Ledger activity continues to rise despite price volatility, signaling strong network utility.
The XRP Ledger has made another milestone after closing in excess of 96.7 million ledgers to date. Growth comes despite the recent volatility in the market capitalization of XRP now at $4.45B surging by 65.02% in the last 24 hours. While price momentum still is beholden to broad market forces, an unwavering trend of expansion in the ledger size reflects growing rising demand for on-chain functionality and transaction validation.
Constant Ledger Growth Signals Expanding Network Use
The rise in the number of ledgers has been linear and continuous since July 2022, reports data from CryptoQuant. From as low as just over 72 million ledgers in July 2022, the network has seen approximately 25 million new ledgers in under three years. This consistent increase reflects broader adoption of the XRP Ledger for transaction recording, verification of network activity, and decentralized application interactions.
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One technical indicator that analysts monitor is the number of ledgers, which is not correlated with price changes and is a measure of the strength of the blockchain in terms of its operational quality. It also suggests how Network activity is resilient even in a time where the market price is under pressure or is unstable.
Market Holds Key Support as Price Recovers Slightly
The price of XRP is $2.16 at present, a small recovery from recent lows. The token is trading just over a significant level of support of $2.10, but short-term resistance of $2.25. XRP is up about 1.4%, or 0.00002052 BTC, in Bitcoin terms. The 24-hour range has been fairly contained, and that's the way that traders see it as consolidation following recent volatility.
Price action over the last six months has shown significant swings, with XRP briefly spiking above $3 earlier this year before retracing. Despite this pullback, the network's increasing ledger count may reflect institutional and retail engagement beyond speculative trading.
On-Chain Growth Outpaces XRP Price Volatility
What is notable about the current configuration is the separation of market price action from on-chain activity. As the price of XRP has shown to be highly volatile, the expansion of the network remains consistent and unobstructed. Such decoupling is an indicator that long-term trust in the utility of the network may be generating transaction activity regardless of price sentiment ambiguity.
Some market participants view this as a sign of structural strength. If ledger activity continues to expand at this pace, it may serve as a foundation for future price stabilization or recovery, especially if utility metrics begin to align more closely with investor sentiment.
In summary, XRP is showing technical resilience in its on-chain metrics even as market dynamics remain uncertain. Whether this growing ledger count will translate into long-term price support remains to be seen. However, the network's operational metrics continue to trend upward, offering a counterpoint to short-term price volatility.
