Amid the global digital asset market selloff and bearish sentiments, one coin, XRP, is still making news for hitting milestones.
Notably, the number of addresses on the XRP ecosystem has soared significantly despite the ongoing market volatility.
XRP News: User Growth Defies Market Downturn
According to Ali Martinez, a well-known on-chain analyst, the XRP network is growing stronger.
It is worth taking notice that the network has recently made it to 6.26 million addresses.
This highlights a positive development for the XRP network, since it managed this feat despite the price swings and recent market volatility.
However, XRP is not immune to the bearish sentiments in the broader cryptocurrency space.
These addresses own at least 1 XRP, indicating a growing adoption by market participants and users worldwide.
Image Source: Ali Martinez on X
The increased growth aligns with Ripple’s focus on ensuring the ecosystem drives utility as a fast and efficient low-cost cross-border payment channel.
Analyst Ali’s update highlights the growing adoption of the XRP network even as more users flock to embrace it.
A significant factor facilitating this development could have been triggered by the resolution of the long-drawn legal battle between Ripple and the Securities and Exchange Commission (SEC).
With the case closed, retail and institutional players maintaining a cautious distance might have decided to bet on the XRP network, possibly contributing to the growth seen.
Interestingly, as of March 29, the number of XRP addresses was less than 6.23 million.
However, the XRP network surged rapidly within 14 days, and by April 7, 2025, it had recorded the additional address.
Over 30,000 new addresses were activated within less than two weeks, confirming the positive sentiment compared to rivals.
These positive developments could catalyze a price rebound amid an otherwise bearish and volatile scenario
Growing XRP ETF Buzz
XRP news has seen growth in adoption and performance. These developments have persuaded some market participants to believe that the coin may even outperform Ethereum (ETH) eventually.
These groups of optimists believe that factors such as a rebound from the bearish market, the approval of a spot XRP exchange-traded fund (ETF), and other positive settlements could support XRP in flipping ETH.
John Deaton, a pro-Ripple lawyer, maintains that most people in the crypto space underestimate XRP’s appeal to market participants.
Image Source: John Deaton on X
In a post referencing Eric Balchunas, who is a senior ETF analyst at Bloomberg, Deaton had highlighted a recent development in the ETF space.
This features the 2x Long Daily XRP ETF launched by Teucrium Investment, a leveraged fund meant to provide twice the daily price performance of XRP.
Deaton noted that the 2x XRP ETF hit a remarkable $5 million trading volume on its first day.
According to him, this is indicative of the asset’s massive appeal among crypto enthusiasts.
Even though its performance is far behind BlackRock’s Bitcoin ETF, the numbers point to the genuine market interest of market participants in gaining XRP exposure.
Ripple’s Strategic Expansion Fuels Ecosystem Confidence
Meanwhile, the crypto market anticipates the U.S. SEC’s response to the different spot XRP ETF filings.
Some asset managers, including 21Shares, Grayscale, and Bitwise, have already submitted applications to the regulatory body.
There are high expectations that a regulatory nod could propel XRP’s price to new heights as the price recovers.
Some boldly predict that a spot XRP ETF could easily support the ecosystem to flip Ethereum.
The Ripple ecosystem has stayed active and made a notable expansion with acquiring crypto-friendly prime broker Hidden Road for $1.25 billion.
Ripple has described the move as strategic, as it seeks to build the tools and networks needed for the next wave of crypto adoption.
