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The XRP price plunged 7% in the last 24 hours to trade at $2.21 as of 4 a.m. EST on a 28% drop in trading volume to $7.47 billion.
The fall in the Ripple token’s price comes as Bitwise and Grayscale announce management fees for their planned XRP and Dogecoin ETFs. Bitwise set a 0.34% fee for its XRP ETF, while Grayscale plans a 0.35% fee for both its XRP and DOGE ETFs.
Both firms are moving forward with their plans for launch despite not receiving approval from the Securities and Exchange Commission (SEC) amid the ongoing government shutdown.
New listing rules now allow finalized ETF filings to take effect automatically after 20 days if requirements are met, even without direct SEC approval.
🚨 Breaking Crypto News: Grayscale Investments has filed amended S-1 registration statements with the SEC for spot ETFs tracking XRP and Dogecoin! Each comes with a low 0.35% annual management fee, removing delay provisions for faster effectiveness, and using cash-based… pic.twitter.com/benR2NRxh2
— Invest Alpha Pro (@JrSydrick) November 4, 2025
The move mirrors Grayscale’s earlier launch of its Solana ETF, which debuted successfully despite regulatory silence. Bitwise’s SOL ETF also saw strong inflows of $56 million on its first day, inspiring further expansion. Canary Capital has joined the race with ETFs tied to Litecoin and Hedera (HBAR).
According to ETF Store president Nate Geraci, spot XRP ETFs could launch within two weeks, marking a major milestone after years of legal battles between Ripple and the SEC.
Analysts say successful XRP and DOGE ETF launches could attract billions in inflows.
XRP Ledger Addresses Hit Record 7.68 Million
The XRP Ledger has reached a major milestone, with the total number of addresses climbing to 7.68 million, according to data from CryptoQuant. This marks a steady rise in network activity and user adoption, even as the XRP price trades lower at around $2.3.
In early 2023, the network had roughly 4.5 million addresses. Since then, the number of accounts has grown consistently, showing strong community engagement. The biggest jump came in late 2024 when XRP’s price surged from below $1 to above $3, boosting investor confidence and attracting new users.
XRP Ledger Total Number of Addresses. Source: CryptoQuant
Despite the recent price correction, the continuous growth in wallet creation suggests that more users are building long-term positions on the XRP Ledger. This points to increasing trust in Ripple’s blockchain ecosystem and its expanding use cases in global payments and tokenization of assets.
Analysts view this growth as a bullish long-term sign. While short-term market movements remain uncertain, the rising number of unique addresses signals a healthy and active network.
As Ripple continues to form partnerships and push for broader blockchain adoption, the XRP Ledger’s strong user base could help support future price recovery.
XRP Price Signals A Bullish Reversal
The XRP price is currently showing early signs of a bullish reversal after weeks of decline within a clearly defined bearish channel. The token is currently trading around $2.34, up 1.52% in the past 24 hours, suggesting that buying momentum may be returning as traders anticipate a trend reversal.
On the daily chart, XRP has been moving inside a downward-sloping channel since August, where sellers maintained control and pushed prices lower from around $3.50 to recent lows near $2.00.
However, the latest candle has broken above the lower boundary of this channel, indicating a potential shift in market sentiment. If this breakout holds, XRP could target a move toward the upper resistance near $3.50, marking a bullish reversal pattern.
XRPUSDT Analysis Source: Tradingview
The chart also highlights a key support zone between $1.80 and $2.00, which previously acted as a strong demand area. This zone has again proven effective in holding back further declines, giving bulls a foundation to build momentum.
The next significant resistance level lies at around $2.80, followed by the $3.50 target price shown on the chart.
XRP Price Could Push Toward $3.5
From a technical perspective, the Relative Strength Index (RSI) has rebounded from oversold levels and is currently around 45, suggesting improving buying pressure, though still below the 50 mark, which would confirm stronger bullish momentum. If the RSI crosses above 50, it would likely signal the continuation of a new upward trend.
A confirmed breakout above the channel resistance and sustained movement above $2.50 could trigger a new rally toward $3.50. However, if the price falls back below the $2.00 support, the bearish trend may resume. Traders should watch these levels closely for confirmation of the next major move.
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