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Shiba Inu 4% Price Drop Wipes Out 48,348,433,371 SHIB in Long Positions

Lele Jima
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Shiba Inu 4% Price Drop Wipes Out 48,348,433,371 SHIB in Long Positions

Shiba Inu falls 14% from its multi-month high as SHIB faces key $0.000005 support, heavy long liquidations, and rising ranking pressure.

Shiba Inu is losing momentum after briefly breaking above the $0.000006 level, giving back much of its gains from the latest crypto market rally.

Over the weekend, SHIB climbed to a multi-month high of $0.000006191, helping the token rise to 26th place among the world’s largest cryptocurrencies. However, the subsequent pullback across the broader crypto market has put renewed pressure on the asset.

At press time, SHIB traded at $0.000005298, down 14.42% from its recent high. The token also fell 4.09% over the past 24 hours, bringing the $0.000005 level into immediate focus. A break below this level could expose SHIB to further losses.

Shiba Inu Long Traders Take Heavy Losses

The latest decline has also hurt leveraged traders who positioned for SHIB to extend its rally.

According to CoinGlass data, $256,150 worth of SHIB leveraged positions were liquidated over the past 24 hours. Long traders absorbed most of these losses, accounting for $252,960 in liquidations.

These liquidations represented 48,348,433,371 (48.34 billion) SHIB tokens. By comparison, short traders recorded only $3,190 in liquidations, equivalent to roughly 602.11 million SHIB. 

Shib Liquidation
Shib Liquidation

Meanwhile, SHIB’s liquidation figure remains small compared with the broader crypto market. Across the market, $322.01 million worth of leveraged positions were liquidated during the same period, affecting 80,418 traders.

Nonetheless, additional downside could put even more pressure on SHIB bulls. If the token falls toward $0.00000497, potential long liquidations could increase to approximately $300,440, while short liquidations could reach about $4,780. 

Shiba Inu Possible Liquidation
Shiba Inu Possible Liquidation

SHIB Faces Ranking Pressure

The recent decline has also weakened SHIB’s position in the global cryptocurrency rankings.

Currently, SHIB ranks as the 27th-biggest cryptocurrency, with a market cap of $3.11 billion. However, its position is becoming vulnerable as rival assets close the gap.

Sui ranks 28th with a market cap of around $3.1 billion, while Cronos and Tether Gold occupy the 29th and 30th positions with valuations of $2.85 billion and $2.82 billion, respectively. Therefore, another decline in SHIB’s market cap could allow Sui to overtake the meme coin and push it out of the top 27 cryptocurrencies.

XRP Clears Resistance Liquidity, But This Support Could Decide Its Next Move

Mark Brennan
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XRP Clears Resistance Liquidity, But This Support Could Decide Its Next Move

XRP has cleared liquidity around its most immediate resistance, now dropping to a support level that may determine its next direction.

XRP climbed to $1.69 last week but met strong resistance around that level and later pulled back toward $1.40. The token now trades at $1.41, although it still holds a 40% gain over the past week. 

With the pullback underway, CryptoQuant analyst Pelinay has warned that selling pressure could remain in place. She believes XRP may first return to a support area before the market decides its next move.

Pelinay noted that XRP was observing a shift from the resistance area toward support. After looking at XRP’s supply side together with its derivatives market, she found signs that short-term pressure remains high. 

Long Liquidations Show Rising Selling Pressure

Notably, long liquidations reached about $4.66 million, marking a 31.82% increase in one day. Short liquidations, meanwhile, stood at around $1.13 million after rising 61.61%.

Essentially, long liquidations were nearly four times higher than short liquidations. This shows that XRP’s recent decline forced many traders with leveraged long positions to close out their trades. 

XRP Clears Resistance Liquidity | Source: CryptoQuant
XRP Clears Resistance Liquidity | Source: CryptoQuant

As a result, the sell-off did not come only from spot-market selling. Liquidations of leveraged long positions also added to the downward pressure.

Still, the removal of these leveraged positions could help create better conditions for a rebound later, as XRP has cleared overhead liquidity. For now, however, the much higher level of long liquidations confirms the current bearish move. 

XRP MFI Still Leaves Room for More Downside

Pelinay also highlighted XRP’s declining Money Flow Index (MFI), which fell to 35.89. Notably, MFI had been around 60 before falling to the current figure, showing that the buying pressure behind XRP’s earlier rise has weakened considerably.

Meanwhile, XRP’s MFI has not fallen below 20, so the token has not yet entered the technically oversold area. This means the indicator still leaves room for further weakness. It also suggests that XRP has yet to produce a strong signal that a bottom is in place.

The price action also supports this. Specifically, XRP climbed to $1.52 before falling back to $1.43. At the same time, several indicators are pointing in the same direction. Overall, XRP’s price is falling, MFI is declining, Binance reserves are rising, and long liquidations are increasing. These readings show a negative short-term setup.

XRP Still Holds a Longer-Term Bullish Structure

Meanwhile, short-term technical indicators remain slightly more balanced. XRP currently trades at $1.41 after reaching an intraday high of $1.48 on August 24. 

On that same date, the daily RSI14 reached 80.48, putting XRP deep into overbought territory. This helps explain why the price has started to cool after its recent advance.

Despite the weaker momentum, XRP’s broader structure remains upward. The 200-day EMA sits at $1.34, below the current spot price. As long as XRP remains above this level, the longer-term uptrend structure remains intact.

The first major support now sits around $1.36. Short-term EMAs also come together around $1.36, $1.32, and $1.20, which creates a bullish EMA structure. Holding the $1.36 area could help XRP avoid a deeper decline.

XRP Bulls Need to Defend $1.36

A break below $1.36 would put the $1.28 region in focus. That level served as the daily S1 pivot during last week’s breakout and could become the next important support if selling pressure continues.

On the other side, XRP faces immediate resistance at $1.45. The level previously acted as support before the pullback and has now become a resistance area. A clean move above $1.51 would offer a stronger bullish signal, as that level matches R1 on the daily pivot framework.

For now, the $1.36 level remains important for XRP. Holding it would give the token a chance to stabilize after clearing liquidity around resistance. However, losing that support could send XRP toward $1.28 and extend the current pullback.

Billionaire Tim Draper Highlights a Major Opportunity for Cardano Ecosystem Founders

Lele Jima
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Billionaire Tim Draper Highlights a Major Opportunity for Cardano Ecosystem Founders

Billionaire investor Tim Draper is backing a new opportunity for entrepreneurs building within the Cardano ecosystem through the Apex Growth Accelerator.

In a recent X post, Draper called the Cardano community’s attention to a partnership between Draper University and the Orion Fund to launch the 10-week Apex Accelerator. The program is designed to help promising Cardano-based startups become investor-ready.

However, interested founders have limited time to apply. Applications close on September 1, while the program is scheduled to begin on October 5. Notably, Draper described the program as a big opportunity for builders in the Cardano ecosystem. 

For context, the Apex Accelerator will help founders develop their businesses while providing direct exposure to Silicon Valley investors, industry experts, and Draper University’s broader entrepreneurial network. 

Accelerator Targets Investor-Ready Cardano Startups

Rather than focusing solely on early-stage ideas, the Apex Accelerator targets founders who already have substantial businesses or products to build on. Draper University describes the initiative as a growth accelerator for investor-ready startups.

Meanwhile, the program will support companies developing solutions across several areas of the Cardano ecosystem. These include DeFi infrastructure, real-world assets (RWA), tokenization, enterprise applications, scaling and other emerging opportunities on Cardano.

As a result, the accelerator can be particularly valuable for founders who have moved beyond the idea stage and need additional resources, connections and capital to scale their businesses.

Benefits of the Initiative 

One of the program’s biggest attractions is its investment component. Participating companies can receive up to $70,000 in investment, with the current structure targeting 3.5% equity.

Beyond the funding, selected founders will participate in a Silicon Valley residency at Draper University. They will work alongside other entrepreneurs while gaining access to venture capitalists and industry specialists throughout the program, rather than waiting until the final Demo Day.

Orion Fund Provides Ecosystem Backing

The accelerator is powered by the Orion Fund, an $80 million ecosystem fund launched by Cardano and Draper Dragon to invest in companies building around Cardano.

Draper University serves as the fund’s acceleration partner. The initiative could create a pipeline through which promising Cardano startups receive early support before progressing toward larger investment opportunities.

With applications closing on September 1, the program offers Cardano-based founders a limited window to position their startups for funding, mentorship, and broader investor exposure.

Meanwhile, Draper’s involvement adds further weight to the initiative. The billionaire investor has a long history of backing early-stage technology and cryptocurrency companies. Therefore, his support could provide founders with valuable access to capital, strategic connections and industry expertise. 

Bitwise President Reveals XRP ETF Hits Highest Trading Volume Since Launch

Abdulkarim Abdulwahab
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0
Bitwise President Reveals XRP ETF Hits Highest Trading Volume Since Launch

The Bitwise XRP ETF has seen a big jump in trading activity over the past three sessions as institutional investors pay more attention to XRP price.

Bitwise President Teddy Fusaro said more than $80 million worth of the ETF was traded in the latest session. The two sessions before that each had more than $60 million in trading volume.

Accordingly, Fusaro said trading volume has “really popped” over the past three sessions. Notably, the Bitwise president disclosed that the latest session marked the highest-volume trading day since the ETF’s launch.

Image by Teddy Fusaro
Image by Teddy Fusaro

Bitwise leads XRP ETF inflows

The surge in trading activity comes as XRP ETFs continue to attract fresh capital. SoSoValue data shows the Bitwise XRP ETF recorded an $8.25 million inflow in the latest session. This took its cumulative net inflows to approximately $550.93 million.

Bitwise is currently the largest XRP ETF issuer by cumulative inflows. Canary Capital follows with about $469.69 million, while Franklin Templeton has attracted approximately $438.16 million.

Other issuers have also contributed to the XRP ETF flows. Franklin and Canary joined Bitwise in recording inflows during the latest session, helping push total daily XRP ETF inflows to approximately $13.82 million.

Other ETFs

Meanwhile, Grayscale and 21Shares did not record inflows during the session. Across all XRP ETFs, cumulative net inflows have now reached roughly $1.57 billion, while total assets stand at around $1.44 billion.

Notably, 21Shares is the only ETF in the group with negative net inflows, at around -$20.1 million. Still, its ETF has about $159.9 million in assets, more than Grayscale’s $84.4 million.

These figures are significant because trading volume and fund inflows provide important insights into market activity. Inflows mean investors are putting new money into the ETF, while higher trading volume shows that more people are actively buying and selling it, which can also improve liquidity.

XRP Price Influencing the Market

Notably, the impressive figures for inflows and trading volume come as XRP has experienced explosive price action over the past few days.

For instance, last week, XRP’s price rose more than 70%, moving from $0.988 to $1.70. Amid this surge, XRP active addresses jumped 655%, rising from 47,180 to 356,070.

Market activity also spiked, with XRP futures volume reaching $11.37 billion across major exchanges, the highest level since February. Large exchange withdrawals simultaneously rose to 231 million XRP.

In sum, the surge in ETF activity, network activity, futures volume, and exchange withdrawals suggests that the latest XRP rally is being driven by significantly increased market participation.

With more than $80 million traded in the latest session and total XRP ETF inflows nearing $1.6 billion, regulated XRP investment products are becoming an increasingly important part of the market.

Recent XRP Pullback Has Not Yet Broken The Bullish Structure as Price Eyes $1.69

Sam Wisdom Raphael
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Recent XRP Pullback Has Not Yet Broken The Bullish Structure as Price Eyes $1.69

XRP has pulled back after posting one of its strongest weekly gains in recent months, but the move has not yet changed its bullish structure.

XRP gained more than 50% over the week, breaking above $1.60 before sellers pushed the price down to $1.4852. The decline represents a 2.3% drop in one day, but it remains small compared with the size of the recent rally.

The question now is whether this pullback will lead to a deeper decline or give XRP room to recover before another move higher. So far, the 4-hour chart continues to favor the bullish case. Key support levels remain below the current price, while $1.6999 remains the main upside level to watch.

XRP Pullback Has Not Broken the Bullish Trend

At $1.4852, XRP trades below the $1.5231 upper band but remains above the EMA21 at $1.4194. The recent decline came after XRP faced resistance around $1.5231, where buyers struggled to push the price higher. However, the pullback has not reached a level that would seriously weaken the broader trend.

The EMA21 at $1.4194 now stands as the first important support level. XRP could move toward this area as the market cools after its nearly 50% weekly gain. 

Meanwhile, the $1.40 level also remains important during any further decline, but the EMA55 at $1.2657 sits much lower and continues to provide stronger support for the broader trend.

XRP Maintains Bullish Structure
XRP Maintains Bullish Structure

The 4-hour STC indicator continues to show an active uptrend. XRP also remains above both major exponential moving averages, with the EMA21 at $1.4194 directly below the current price and the EMA55 at $1.2657 much farther below.

This gives XRP some room to absorb selling pressure without immediately damaging its broader structure. The price also remains in the upper half of the band, which supports the current bullish setup. If XRP falls toward the EMA21 at $1.4194 and buyers defend that level, the pullback could set up another attempt to move higher.

XRP Structure Keeps $1.6999 in Focus

The price structure is another reason for the bullish outlook. Notably, XRP recorded its latest confirmed bullish Break of Structure 26 bars ago at $1.0086, and the price has not returned to test that level. Its latest swing low at $0.9882 has also remained untouched.

These levels show that the recent decline has not yet caused meaningful damage to the broader structure. At the same time, XRP recorded a swing high at $1.6999 twelve bars ago. This level remains open above the current price and represents the main target if buyers regain control.

XRP needs a 4-hour close above the $1.5231 upper band to strengthen the case for another move higher. Before that happens, the price could test the EMA21 around $1.4194. Holding the $1.40 area during such a pullback would help keep the bullish setup intact.

If XRP breaks back above $1.5231, the next level to watch would be $1.5800. A move through that resistance could put the $1.6999 swing high within reach. If XRP then breaks above $1.6999 with an ATR-buffered move, the next target would be $1.7500.

The Key Invalidation Level

However, the bullish setup still has a clear level that would change the outlook. A 4-hour close below the EMA55 at $1.2657 would break the main trend support and weaken the case for further gains. It would also bring the $0.9882 swing low back into focus as a possible downside target.

For now, XRP remains above $1.2657, while the $1.0086 bullish Break of Structure and $0.9882 swing low remain intact. 

As long as the EMA55 holds, the recent 2.3% pullback does not erase the over 50% weekly rally. The focus therefore remains on whether XRP can reclaim $1.5231 and begin another move toward the $1.6999 level.

XRP ETF Trading Surges to New ATH as August Flows Cross $56M

Sam Wisdom Raphael
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0
XRP ETF Trading Surges to New ATH as August Flows Cross $56M

The XRP ETF products have seen a massive and sustained increase in trading activity as XRP’s price recently recovered above $1.40.

According to data from SoSoValue, XRP ETFs recorded about $125 million in daily trading volume on Aug. 20, 2026. This was the highest daily volume since these products began trading in November 2025.

The Aug. 20 figure was 42% higher than the previous record of $87.84 million, which XRP ETFs recorded on Nov. 24, 2025. Trading activity remained strong the next day, with XRP ETFs recording $94.03 million in volume on Aug. 21. 

XRP ETF Trading Activity Source Sosovalue
XRP ETF Trading Activity | Source: Sosovalue

This pushed the Nov. 24 figure to the third-highest daily volume at the time. Interestingly, activity increased again at the start of the new week, as XRP ETFs recorded $107.92 million on Aug. 24, making it the second-highest daily volume.

Bitwise Leads XRP ETF Trading

The Bitwise XRP ETF (XRP) accounted for most of the $125 million traded on Aug. 20. Specifically, it recorded $84.01 million, giving it a 67% share of the total trading volume for the day.

The Franklin Templeton XRP ETF (XRPZ) ranked second with $23.28 million in volume. Meanwhile, the Canary Capital XRP ETF (XRPC), which launched as the first spot XRP ETF in November 2025 and led trading activity for some time, followed with $14.07 million. 

The Grayscale XRP ETF (GXRP) came fourth with about $4.68 million in trading volume on Aug. 22, while the 21Shares XRP ETF (TOXR) recorded the lowest at $604,520.

Stronger XRP ETF Trading Comes with Higher Inflows

The increase in trading volume has also come with stronger inflows into XRP ETFs. This suggests that investors have not only traded these products more actively but have also increased their purchases.

On Aug. 20, when XRP ETFs reached the $125 million daily volume record, they also attracted $13.24 million in inflows. This was their largest single-day inflow since June 29, 2026.

The inflow figure rose further on Aug. 21. Even though trading volume fell to $94.03 million, XRP ETFs attracted $18.38 million in inflows. This became their highest single-day inflow in three months. 

Notably, for the full week, XRP ETFs recorded $39.78 million in inflows, their strongest weekly result since May 2026.

August Inflows Cross $56 Million

The strong inflow trend has continued into the new week despite XRP’s price momentum weakening. On Monday, Aug. 24, XRP ETFs attracted another $13.82 million, keeping the recent inflow streak intact.

So far in August 2026, XRP ETFs have recorded $56.86 million in total inflows. This has already more than doubled the $27.29 million recorded in July 2026. August is also closing in on June 2026, when XRP ETFs recorded $59.46 million in inflows. 

XRP ETFs Monthly Flows
XRP ETFs Monthly Flows

Trading volume has also climbed this month. XRP ETFs have now recorded more than $500 million in total trading volume in August 2026, reaching about $508 million. This makes August the month with the highest XRP ETF trading volume since January 2026, showing how much activity has returned to these products as XRP trades above $1.40.

Unknown Whale Withdraws 280B Shiba Inu From OKX as SHIB Nears Key Technical Breakout

Lele Jima
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Unknown Whale Withdraws 280B Shiba Inu From OKX as SHIB Nears Key Technical Breakout

An unknown whale address has drawn attention in the Shiba Inu community after withdrawing more than 280 billion SHIB from cryptocurrency exchange OKX during the token’s recent rebound.

According to Arkham data, 280,826,574,058 Shiba Inu moved from an OKX hot wallet to an unlabeled address at 16:38 UTC yesterday. At the time, the tokens were worth $1.56 million.

Although Arkham labels the recipient as an unknown address, on-chain activity suggests that it is connected to Cumberland, a major digital-asset liquidity provider. The wallet initially received funding from Cumberland and has since recorded several transactions involving the firm.

However, the address has not retained the entire withdrawal. After distributing the tokens across several wallets, it now holds 14.29 billion SHIB, worth around $79,030.

SHIB Pulls Back After Strong Weekend Rally

The large transfer comes as SHIB gives back part of its recent gains. Shiba Inu climbed above $0.000006 over the weekend and reached a high of $0.000006191 before retreating.

At press time, SHIB was trading around $0.000005507, up 1.7% over 24 hours and 24.73% over the past week. Meanwhile, exchange-flow data is providing another potentially bullish signal. Investors withdrew 137.60 billion SHIB from exchanges over the previous 24 hours, pushing total exchange reserves below 87 trillion tokens to 86.98 trillion SHIB.

Generally, large exchange outflows can reduce the amount of SHIB immediately available for trading and potentially ease selling pressure, with analysts considering the move a bullish signal. 

SHIB Approaches Key Technical Decision Point

Meanwhile, Shiba Inu is approaching an important technical area. Crypto analyst GainMuse highlighted a wedge formation on the two-hour chart, with support currently controlling the structure.

The setup features eight support levels and seven resistance levels, pointing to a closely contested market. Therefore, SHIB’s next reaction around the nearest technical level could determine its short-term direction.

A decisive breakout above resistance could strengthen the recent bullish momentum and pave the way for further gains. Conversely, a rejection at resistance followed by a breakdown below support could expose SHIB to deeper losses, with $0.000005 and $0.0000048 emerging as potential downside targets. 

XRP Futures Volume Spikes to Early February Highs Above $11B

Mark Brennan
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XRP Futures Volume Spikes to Early February Highs Above $11B

XRP futures volume has surged to highs the market last witnessed in early February, as investors renew interest in derivatives activity.

XRP joined the broader crypto market rebound last week, climbing back above the $1.40 level as the rally continued into the new week.

However, the pace has slowed. Despite the weaker momentum, activity in XRP futures has climbed, reaching a new six-month high.

XRP Futures Volume Hits Six-Month High

Verified CryptoQuant author Amr Taha discussed this trend in a recent disclosure. Data shows that futures trading volume across Bybit, OKX, Binance, and Bitget reached $11.37 billion on Aug. 22, the highest level since Feb. 5.

The jump followed a 4.3-fold increase in large XRP exchange withdrawals over 48 hours, with withdrawals reaching 231 million XRP.

In addition, the move also came as XRP posted a roughly 45% rebound, pushing exchange flows, futures activity, and price movement to their strongest combined levels in months.

Large XRP Withdrawals Rise as Futures Activity Spikes

Taha identified large-transfer outflows through transactions involving more than 1 million XRP. These withdrawals rose from 54 million XRP on Aug. 19 to 114 million XRP on Aug. 20, before reaching 231 million XRP by Aug. 21.

Futures activity picked up soon after. Specifically, Binance recorded $5.63 billion in volume on Aug. 22, while Bybit reached $2.35 billion. OKX followed with $2.04 billion, and Bitget recorded $1.35 billion.

XRP Futures Volume by Exchange | Source: CryptoQuant
XRP Futures Volume by Exchange | Source: CryptoQuant

Combined, the four exchanges handled about $11.37 billion in XRP futures volume. This figure came in roughly 17.5% above the level recorded on Feb. 5. The increase also spread across all four exchanges instead of coming from just one platform.

Notably, Binance saw its volume rise to $5.63 billion from $5.44 billion on Feb. 5. Bybit climbed to $2.35 billion from $2.04 billion, while OKX increased to $2.04 billion from $1.35 billion. Bitget recorded the biggest increase among the four, moving to $1.35 billion from $0.84 billion.

XRP Cools After Nearly 50% Weekly Gain

Currently, XRP trades at around $1.48, with a 24-hour range of $1.45 to $1.54 and trading volume of $5.80 billion. Its market cap stands at $92.73 billion, keeping XRP at No. 5 among all cryptocurrencies. 

The token has pulled back after one of its strongest weekly rallies of the year. Specifically, XRP rose from around $1 to nearly $1.70, marking a gain of roughly 50%, before profit-taking pushed the price lower.

XRP’s short-term moving averages have formed a golden cross, supporting the current bullish structure. The signal shows that short-term price momentum remains positive even after the recent pullback.

However, the crypto asset now sees RSI readings above 80 at recent highs, which may suggest overbought conditions. This increases the risk of further profit-taking, especially after such a strong move in a short period.

For buyers, the key level to watch remains the $1.40 support floor. If XRP holds above this level, the current bullish structure could remain intact. The next major hurdle sits between $1.65 and $1.70, an area XRP approached during its recent rally.

Cardano Founder Backs Engineering Collaboration With Ethereum

Lele Jima
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Cardano Founder Backs Engineering Collaboration With Ethereum

Cardano founder Charles Hoskinson has welcomed the possibility of greater engineering collaboration between Cardano and Ethereum, arguing that both ecosystems could benefit from sharing technological innovations.

Speaking in a recent interview, Hoskinson urged Ethereum’s development community to remain open to innovations Cardano has developed over the past several years, particularly its approach to implementing novel smart-contract capabilities on a UTXO-based blockchain.

According to Hoskinson, Ethereum developers could explore these innovations to gain access to new capabilities while also strengthening interoperability between the two ecosystems. 

At the same time, he believes Cardano could benefit if Ethereum adopted some of its technology. In his view, such integration would make it easier for developers to work across Cardano-related projects, including Midnight and other products.

No Financial Ties Required 

Hoskinson described the potential cooperation as a straightforward academic and engineering collaboration rather than a financially driven partnership.

He argued that neither ecosystem would need to transfer money or revisit past disagreements before working together. Instead, both sides could acknowledge useful technological developments and demonstrate a willingness to collaborate.

In his view, greater cooperation could create a more connected developer environment while allowing Cardano and Ethereum to benefit from each other’s technological advances.

Meanwhile, Hoskinson encouraged Ethereum investors and developers to consider why the two communities could not work together to integrate Cardano’s open-source technology.

He suggested that Ethereum developers could collaborate directly with Cardano engineers and potentially develop the necessary capabilities within months. Consequently, he believes technical disagreements or personal conflicts should not prevent the two ecosystems from exploring mutually beneficial solutions. 

Previous Debate Surrounding Ethereum’s UTXO Push

Hoskinson’s comments come amid growing debate over Ethereum’s interest in UTXO-based designs. The discussion intensified in July after an Ethereum researcher published a proposal exploring native UTXO-style payment designs.

The proposal drew attention from the broader Cardano community because some of its concepts resemble design principles that Cardano has already implemented through its Extended UTXO (EUTXO) architecture. 

However, Ethereum co-founder Vitalik Buterin credited Bitcoin for inspiring Ethereum’s exploration of UTXO-based designs rather than directly acknowledging Cardano’s work. Hoskinson initially criticized the lack of recognition, particularly given Cardano’s long-standing use of the EUTXO model. 

Nonetheless, his latest comments signal a more collaborative approach. Rather than allowing past disagreements over technological recognition to deepen the divide, Hoskinson now appears willing to focus on engineering cooperation and the potential benefits of combining ideas from both ecosystems. 

XRP Active Addresses Soar 655% as $1.70 Comes Back Into Focus

Abdulkarim Abdulwahab
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0
XRP Active Addresses Soar 655% as $1.70 Comes Back Into Focus

XRP network activity is exploding as active addresses surge more than 650%, coinciding with the token’s strongest price rally in months.

According to Santiment data, XRP active addresses jumped 654.71%, rising from 47,180 to 356,070. The move marks a major increase in network participation. The network chart showed activity below 50,000 just one week earlier before climbing above 350,000.

Notably, the surge comes as XRP has staged a major recovery from below $1.

XRP Price Surges 49% in a Week

XRP is trading around $1.50 after gaining roughly 49% over the past week. The token was changing hands near $0.9882 last week before accelerating higher and reaching $1.70 on August 22. 

That move represented a gain of more than 70% from the weekly low. Meanwhile, XRP has since pulled back from $1.70 but has largely stabilized around the $1.48-$1.50 area. 

Soaring prices and rising active addresses suggest more addresses are participating in XRP Ledger activity, capitalizing on the ongoing positive momentum.

ETF Demand

The surge in network activity is also happening alongside institutional demand through U.S. spot XRP ETFs. On Monday, XRP ETFs recorded $13.82 million in net inflows, according to SoSoValue data. 

Bitwise accounted for $8.25 million, while Franklin Templeton added about $4.01 million. Canary Capital recorded $1.57 million in inflows, while others, such as 21Shares and Grayscale, saw no new investment. Notably, cumulative XRP ETF net inflows have now reached roughly $1.57 billion.

The latest daily inflow follows a much stronger week for the products. XRP ETFs attracted $39.78 million during the week ended August 21, their strongest weekly performance since mid-May.

XRP ETF | SoSoValue
XRP ETF | SoSoValue

Futures Activity Also Explodes

Derivatives activity provides another indication of how dramatically XRP market participation has increased.

CryptoQuant data showed XRP futures trading volume across Binance, Bybit, OKX and Bitget reached $11.37 billion on August 22. That was the highest level since February 5.

The spike came shortly after large XRP withdrawals from exchanges surged to 231 million tokens, representing a 4.3-fold increase in 48 hours.

The timing is important because the jump in futures activity, large exchange withdrawals, and XRP price rebound all occurred within the same period. XRP had gained roughly 45% during the recovery, putting spot and derivatives activity at some of their strongest levels in months.

Together, the data show that the latest XRP rally has been accompanied by much greater market participation, not just a gradual price recovery.

Where’s XRP Price Headed?

The next challenge for XRP is turning the explosive rebound into a sustained move. XRP rising from about $0.99 to $1.70 and falling back toward $1.50 shows that sellers are still active. Now, the $1.70 level is important. If XRP breaks above it and stays there, the price could move higher. 

Canary Capital CEO Steven McClurg recently said he wouldn’t be surprised to see XRP reach $3.40 within the next year as more institutional lending, credit and yield opportunities develop on the XRP Ledger. 

However, he also warned that the crypto market is still in a bear market and that seasonal and political factors could cause more volatility.

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