XRP traded at $1.01 on August 12, up 1.36% on the day, after briefly slipping below the $1 psychological level the previous day. The swift rebound came as on-chain data showed rising whale activity and a growing number of active addresses, even though price momentum remains weak.
A Brief Slide Below $1
The $1 mark gave way on August 11, but sellers couldn't keep it down. The price snapped back quickly, and by the time of writing on August 12, it was back above the round number. The dip was short-lived, but it showed that the support level isn't as solid as some might hope.
Whale Activity and Active Addresses on the Rise
On-chain data points to increased engagement from both large holders and everyday users. Whale activity is up, and the number of active addresses is climbing. That suggests more wallets are transacting on the XRP ledger, even as the price action struggles to gain traction. The uptick in activity could be a sign that network usage is growing, but it hasn't yet translated into a strong price move.
Momentum Still Weak
Despite the rebound, the gain is modest. A 1.36% move doesn't signal a decisive shift in sentiment. The fact that the price dipped below $1 at all shows selling pressure exists, and the recovery hasn't been accompanied by a surge in buying. The on-chain data offers a counterpoint, but it's not enough to call the trend bullish.
Whether XRP can hold above $1 in the near term will depend on whether the rising on-chain activity turns into sustained buying pressure. For now, the price sits just above the level that briefly broke on August 11.
