The number of new XRP addresses is increasing, but the price remains below $2

XRP has struggled to regain momentum after failing to recover the $2.00 level. Broader market uncertainty has limited bullishness, keeping price movements confined.
However, the approaching New Year is drawing renewed attention to altcoins, supported by increased interest in exchange-traded fund products linked to XRP strategies.
Roundhill aims to launch a different XRP ETF
Roundhill Investments, a well-known American asset management firm specializing in thematic ETFs, has submitted an updated product related to XRP to the U.S. Securities and Exchange Commission. This application indicates growing regulatory acceptance of XRP as a benchmark asset within structured investment tools, marking a significant step for its presence in traditional finance.
The proposed fund does not represent an immediate XRP ETF and will not hold XRP tokens directly. Instead, the product is structured to generate income through option premiums linked to other XRP-based ETFs. Practically, the fund aims to profit from price movements of XRP rather than ownership, with a potential launch expected in 2026.
Holders are moving toward XRP
Despite this development, current XRP holders remain cautious. Exchange balance data shows minimal movement in recent days, indicating that investors are not accumulating or distributing tokens heavily. This stability suggests hesitation as participants await a clearer market trend.
While the lack of inflows limits immediate interest, the absence of widespread selling reduces downward pressure. Neutral positioning often reflects uncertainty more than negative conviction. For XRP, stability at current levels could provide a foundation for future moves once stronger signals emerge.
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On-chain data indicates an underlying shift. The number of new XRP addresses has risen sharply, reaching its highest monthly level. This trend likely reflects the influx of new participants seeking opportunities before potential catalysts, including developments related to ETFs.
If these new addresses translate into sustainable capital flows, overall momentum could improve. New participants often increase demand, supporting price rises. However, growth in activity alone does not guarantee positive outcomes without transaction volume and retention.
XRP is trading at $1.87 at the time of writing, maintaining support just below $1.86. The price has remained around this zone for several sessions, indicating a balance between buyers and sellers. This ongoing range-bound behavior reflects market hesitation.
The renewed rally depends on a return to accumulation alongside continued inflows from new investors. For XRP to challenge $2.00, the price must first break above resistance near $1.93. Sustained movement above this level would signal improved momentum and strengthen short-term bullish outlooks.
The risk of decline remains if sentiment deteriorates. Failing to hold $1.86 could lead XRP to retreat toward $1.79. Such a move would invalidate the bullish thesis and reinforce the broader consolidation narrative until stronger demand returns.