#Commerce Dept. Goes On-Chain

Since August 18, the Ripple XRP token has been moving in a sideways channel, but the market is starting to tilt in favor of the bulls.
On-chain data shows an increase in interest in altcoins, indicating a return of buying pressure despite the balance between bears and bulls.
The daily chart of XRP/USD shows weak price dynamics of the token. Since August 19, it has remained within a horizontal channel.
This pattern occurs when an asset trades between two parallel price levels, reflecting market uncertainty as neither bulls nor bears can gain the upper hand.
Since August 19, XRP has been unable to break through resistance at $3.08, while support remains at $2.84. Such range movement indicates weak momentum, leaving traders waiting for a decisive breakout.
The number of active addresses on the XRP Ledger has been steadily increasing over the past four days. On August 26, their count reached 44,123, which is 20% more compared to 37,615 addresses on August 24.
The growth in the number of active addresses indicates an increase in activity on the network, which suggests a higher number of transactions and interactions on the XRP Ledger.
Such an increase is a good sign of rising utility and demand, which strengthens investor confidence. The 20% growth in active addresses over three days underscores a revival in on-chain activity, which could lead to a breakout resistance at the $3.08 level.
In addition, XRP is showing a rise in positive sentiment in the market, confirming an optimistic forecast. According to Santiment, at the time of publication, this figure is 1.24.