The XRP Ledger (XRPL) is witnessing increased network activity, which is bullish for its native token’s price. On-chain data also shows that whales are actively accumulating XRP, with the addresses holding one million coins recently reaching a new high. 

XRP Ledger Records Massive Growth In Past Week

In an X post, on-chain analytics platform Santiment revealed that the XRP Ledger is showing signs of growth, from both a usage and key stakeholder perspective. The platform revealed that there are now over 2,700 whale and shark wallets holding at least 1 million XRP for the first time in the token’s 12-year history.  

Related Reading

Additionally, Santiment stated that the number of active XRP addresses has averaged over 295,000 daily over the past week. This is notable as the normal daily average over the past three months was between 35,000 and 40,000. It is worth mentioning that the XRPL recorded some major developments last week. 

One is the launch of Circle’s USDC stablecoin on the XRP Ledger. This is expected to boost network activity given the increasing demand for stablecoins. Crypto analyst Moon Lambo predicted that this would increase the total value locked (TVL) on the network. He also noted how this was bullish for the XRP price, since users will need the token for every USDC transaction. 

Furthermore, Ondo Finance launched its tokenized US treasury fund (OUSG) on the XRP Ledger last week, which could have also contributed to the surge in network activity. The BlackRock-backed fund will be mintable and redeemable using the RLUSD stablecoin. Meanwhile, Guggenheim also recently partnered with Ripple to launch the first Digital Commercial Paper on the XRPL. 

Expert Predicts Price Rally Above $4

Amid the surge in network activity on the XRPL, crypto analyst Javon Marks has predicted that the XRP price could rally above $4 and even reach as high as $8. He stated that the altcoin is holding a clear breakout and is getting ready for a major bullish continuation. Marks added that the targets are at $4.80 and $8, marking new all-time highs (ATHs) for XRP. 

Related Reading

Crypto analyst Dark Defender recently alluded to a previous analysis in which he stated that the XRP price could make a decision within two weeks. The analyst is confident that the altcoin could rally to as high as $6 on this Wave 5 impulsive move to the upside. He has also previously predicted that XRP would reach double digits in this market cycle. 

On the other hand, it is worth mentioning that the XRP price has again dropped below the $2.25 level. Crypto analyst CasiTrades had warned that the support levels at $2.01, $1.90, and $1.55 could be in play if the $2.25 level holds as resistance. 

At the time of writing, the XRP price is trading at around $2.16, down over 3% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Adobe Stock, chart from Tradingview.com

XRP has been forming a red bearish candle since the beginning of February, which is a result of a price crash that took place at the start of the month. Although THE ALTCOIN has since recovered slightly, it has yet to return to its January open. Nonetheless, the majority of crypto investors remain bullish on the long-term prospects for XRP, with analysts doubling down on optimistic price targets ranging from $2 to $5.

However, a crypto analyst on the TradingView platform has presented a compelling bearish case for XRP, warning that the asset is nearing the end of a crucial 12-year cycle, which could trigger a severe correction down to $0.1.

XRP’s 12-Year Cycle Nears Completion. Major Correction Ahead?

According to the analyst, XRP has almost completed a 12-year cycle, and the conclusion of this phase is going to be a very intense correction of the XRP price. While acknowledging that XRP could still reach a slightly higher high before the full decline begins, the analyst believes that the probability of significant further upside is low and warns that a continued correction might occur over the coming months.

Related Reading

The warning is centered around technical indicators and technical patterns, particularly a long-term triangle pattern. This long-term triangle pattern persisted for five years between XRP’s all-time high of $3.40 in 2018 up until 2024, before breaking out into a final fifth wave. This final fifth wave has allegedly peaked at $3.40 in January 2025, and the next move from here is an extended move downwards.

The analysis also references the Bullish/Bearish Reversal Bar Indicator by Skyrexio, which confirmed the conclusion of the 12-year cycle. Now, the proposed target for the correction is set around $0.1, based on the 0.5 Fibonacci retracement level.

Contrasting Prediction As Majority Remain Bullish On The Altcoin’s Future

At the time of writing, XRP is trading at $2.43, meaning that a correction to $0.1 would represent a 95% decline from its current level. Such a drop would not only erase nearly all of XRP’s gains since 2017 but would also mark one of the most devastating collapses in its history. Interestingly, this projected loss in XRP market cap would be even greater than the one witnessed during the years it was suppressed by the weight of the SEC lawsuit against its parent company Ripple. 

Related Reading

This bearish prediction contrasts the overwhelmingly bullish sentiment currently surrounding XRP. Many analysts and investors expect extended price growth in anticipation of institutional adoption and regulatory clarity under the new Trump administration. One analyst even recently predicted that the XRP price is about to make an all-time high run to $5. Another analyst, Javon Marks, noted that XRP is well on track to reach over $100 in the coming years.

Featured image from Medium, chart from Tradingview.com

Per data provided by IntoTheBlock, bitcoin reserves held by miners have considerably decreased. These reserves are standing at their lowest level in the past 12 years as the market eagerly awaits the upcoming Bitcoin halving event. Currently, 1.92 million BTC are held by leading mining pools represented by Viabtc, Bitfury, and Antpool. In the same period, the reserve has been falling, and miner outflows have grown by 52%.

The Bitcoin network hashrate globally is currently lower than it used to be. It is currently at a level of 624 EH/s, having previously been at a maximum of 714.89 EH/s on March 24. Analysts believe that this will make the drop even more crucial. This is especially so for the problems that less mining efficiency operations will be likely to deal with when the block reward reduces.

Impact of the Halving on Bitcoin Miners’ Earnings

The scheduled Bitcoin halving will cut rewards in half, and this past week will amount to $445 million. As a result, miners’ profit from block rewards will be affected, having a considerable decrease. Experts predict a loss of about $10 billion for miners will occur with the change. Looking back to historical instances, we see that periods after halving normally entail price surges that often help restoration. However, this particular bull course does not use regular mechanisms, namely a pre-halving rise that may have been caused by Bitcoin ETF launches and may, therefore, produce different results.

Transaction fees, which used to be miners’ main revenue stream, are now part of their income share. In this case, transaction fees contributed only $11 million, and block rewards contributed the bulk of earnings. The proportion of on-chain miner rewards fell to an all-time low of 0.08% and is forecasted to dip further from the onset of halving.

Miners Transfer $1 Billion Post-ETF Approval

Among them, some of the factors that have led to the current market dynamics are numerous. The approval of spot Bitcoins ETFs has maximized the market sale, forcing miners to shrink their reserves and increase prices. Supposedly, the miners who hold about $1 billion transferred them to the exchanges after the ETF approvals. This shows that it is the organization’s strategic plan to mitigate the potential effects on their liquidity post-halving.

Additionally, Coingape noted a decrease in Bitcoin inflows to centralized exchanges from miners, which fell to 374 BTC last month from 1,388 BTC the previous month. This reduction may suggest a cautious approach by miners, aiming to hold onto their assets in expectation of future price increases.

Read Also: Coin Center Asserts Stablecoin Bill Threatens Free Speech Rights

✓ Share:

Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.