Growing interest in XRP coincides with stronger network activity as the XRP Ledger has surpassed 8 million activated accounts for the first time. At the same time, market data shows rising bullish sentiment, increasing DeFi activity, and higher stablecoin balances across XRPL.
Meanwhile, Bitcoin dominance has continued climbing above 59%, yet Ethereum dominance has gained momentum and lifted the ETH/BTC ratio by more than 10% during the past three weeks, pointing to broader capital rotation across the cryptocurrency market.
Current market data points to conditions commonly associated with an altcoin cycle. While Bitcoin dominance has increased for three consecutive weeks, Ethereum has also strengthened against Bitcoin. As a result, capital appears to be spreading beyond Bitcoin instead of remaining concentrated in the largest cryptocurrency. This shift comes as Ethereum dominance continues to improve alongside the rising ETH/BTC ratio.
Meanwhile, AMBCrypto reported that fear of missing out surrounding XRP and Ethereum has reached its highest level in five weeks. Bitcoin sentiment, by comparison, has remained neutral during the same period.
Furthermore, XRP currently leads Ethereum in bullish discussions. Data shows XRP records 3.02 bullish comments for every bearish comment, while Ethereum posts a 2.31-to-1 bullish ratio. The XRP/BTC ratio has also drawn attention after falling below the 0.00002 support level. That level previously preceded a strong breakout during the third quarter of 2025.
Since then, the ratio has produced more than four consecutive lower lows, reflecting XRP's weaker performance against Bitcoin.
The XRP/BTC ratio has now traded around the 0.000015 level for nearly 10 weeks. This extended consolidation may indicate longer-term accumulation instead of short-term capital movement. Meanwhile, on-chain metrics have strengthened alongside improving market sentiment. According to DeFiLlama data, total value locked on XRPL increased by more than 3% during the last 24 hours.
At the same time, the network's stablecoin supply rose by more than 6%. That increase pushed almost $1 billion back into the XRP Ledger ecosystem.
In contrast, more than $2 billion in stablecoins left the Ethereum network during the same period. Consequently, liquidity appears to be shifting toward alternative Layer-1 networks, including XRPL. If that liquidity trend continues, XRP could receive additional support from stronger network participation rather than market sentiment alone.
Read More: Will XRP Crash 50%? Key Risks Every Ripple Investor Should Know
The XRP Ledger has officially exceeded 8 million activated accounts for the first time in its history. The latest count reached 8,000,688 activated wallets after another 688 accounts joined the network. The milestone reflects continued ecosystem growth despite difficult market conditions that have affected investor sentiment since the fourth quarter of 2025.
According to XRPScan, the activated wallets collectively hold 67.526 billion XRP, representing the token's circulating supply. Previously, The Crypto Basic reported that XRP wallets had surpassed 8 million. However, those figures included every wallet ever created, including deleted accounts.
This latest milestone only counts activated wallets. Therefore, it marks the first official occasion that the XRP Ledger has reached more than 8 million active accounts.
XRP recorded stronger bullish sentiment as the XRP Ledger surpassed 8 million activated accounts and on-chain activity improved. Meanwhile, higher DeFi activity, growing stablecoin liquidity, and prolonged XRP/BTC consolidation reflected increasing attention on the network. Investors will likely continue monitoring whether these trends translate into sustained market strength.