Ripple (XRP) is trading above $2.40, indicating a slight rebound in Thursday’s trading session.
Risk-on sentiment is responsible for the increase as Bitcoin (BTC) continues to rise above $104K.
However, sentiment in the derivatives market is still muted, and caution is advised until a consistent upward trend is established.
There were roughly 32,000 active addresses on the XRP Ledger (XRPL), a 40% increase from Sunday’s 19,000. This spike is a sign of increased network user activity and engagement, which raises the likelihood of price momentum and the on-chain demand for XRP.
The XRPL’s utility and adoption, which are crucial elements propelling long-term growth and investor confidence in the ecosystem, are also supported by a consistent increase in active addresses.
Bitcoin fell once more on Wednesday night, momentarily falling below $101,000 before making a significant comeback on Thursday morning. The fact that the US government shutdown will finally end after a record 43-day impasse in Congress is most likely the cause of the rebound.
Hours after the House passed a deal between Republicans and centrist Senate Democrats by a vote of 222 to 209, Trump signed a funding package to reopen the federal government. The agreement will undo the widespread federal layoffs that the President implemented during the shutdown in addition to resuming regular government operations
Tens of millions of Americans should once again receive essential food and nutrition services, and government workers will soon begin getting paid. Trump described the legislation as a “clear message that we will never give in to extortion, because that’s what it was, they tried to extort.“. “The end of uncertainty.”.
Ethereum (ETH) is trading at above $3,500 as a major whale speeds up its acquisition of the leading altcoin. Data from Arkham Intelligence shows that over the last ten days, a significant Ethereum whale has amassed over $1.38 billion in ETH. To potentially increase its ETH holdings, the whale is borrowing $270 million from the decentralized lending platform Aave after adding $105 million. The entity had 228.39K ETH in loaned positions valued at $819 million and 157.32K ETH in direct spot holdings valued at $564 million.
Traders are still fearful in the crypto space
According to the most recent indicators, traders are becoming fearful, which typically causes money to move from weaker hands to long-term accumulators.
This could lead to an “unexpected November rally” in cryptocurrency. In contrast to Ether, which has slightly more than 50% more bullish than bearish comments, social media comments about Bitcoin are equally divided between bullish and bearish.
Santiment stated in an X post on Wednesday that both are lower than normal. However, less than half of the social media comments regarding XRP are positive, making it one of the token’s most “fearful moments of 2025. As the overall market continues to decline, sentiment in the cryptocurrency market is still fearful.
Analysts have linked it to several macroeconomic factors, such as traders moving to assets with clearer exposure to economic policies and credit flows as the end of the US government shutdown approaches.
