XRP has shown signs of recovery this week, with its price rebounding after weeks of volatility. Data suggests the token could be entering a period of stabilization, although market sentiment remains cautious. Despite recent price drops, network activity on the XRP Ledger has surged, indicating potential growth. The number of new wallets created in the past 48 hours is unprecedentedly high, exceeding 21,000, while the platform’s decentralized exchange (DEX) saw record-breaking trading volumes on Thursday, with a staggering 954,000 transactions recorded in a single day. However, analysts remain cautious as they await stronger bullish signals from price action. While increased network activity suggests growing adoption, it coincides with a recent price drop. Some experts suggest that the movement is driven by whales or algorithmic trading strategies rather than genuine buying pressure. Despite long-term selling pressure from large investors who have offloaded over $650 million of XRP in the last 90 days, this trend appears to be easing, suggesting a potential market bottom forming. Meanwhile, traders are showing interest in XRP as they rotate into it amid broader market caution. This is reflected in its resilient open interest in futures markets, compared to Bitcoin and Ether which have seen declines in their derivatives positions.