- XRP’s activity is here
- Plan for recovery
Over the past 24 hours, XRP has seen an increase in on-chain activity, with important ledger metrics essentially doubling in a very short period of time. The volume of payments made between accounts momentarily surpassed one billion dollars, and the quantity of individual transactions also increased. It is rare for such a sudden spike in network usage to go unnoticed, particularly when price action has been having trouble regaining distinct bullish momentum.
XRP’s activity is here
This type of activity indicates from a fundamentals standpoint that the XRP Ledger is once again seeing significant use rather than just speculative holding. Increased settlement demand, treasury movements or institutional testing are all common causes of higher payment volumes.
Network surges enhance the underlying narrative surrounding XRP’s usefulness, which has frequently been questioned during protracted downtrends even though they do not always result in price appreciation.
XRP/USDT Chart by TradinViewNonetheless, price action is still uneven. XRP experienced a sharp relief rally after rising from the lower edge of a declining channel. The asset was forced back above short-term moving averages by the move, but it stalled close to the 50 EMA, which has served as dynamic resistance during the recent decline. Although the RSI has recovered an oversold state, it has not yet moved into a zone that would indicate long-term bullish control.
This implies that rather than being the beginning of a new trend, the current bounce might still be corrective. Two near-term scenarios are produced by a combination of increasing network activity and cautious pricing behavior. In the positive scenario, sustained high ledger usage might give XRP the momentum it needs to stabilize above important averages and try a slow trend reversal.
Plan for recovery
A first step would be to hold above the 26 EMA, which would show that buyers are prepared to defend higher levels. In the more cautious scenario, the price is unable to recover higher resistance levels, and the network surge is short-lived. In the event that broader market conditions deteriorate, XRP would be exposed to another retrace toward recent lows.
As of right now, the increase in on-chain metrics is encouraging, but not a stand-alone catalyst. Before a more robust bullish outlook is warranted, XRP’s price still requires confirmation through consistent volume, higher lows and a clear break above medium-term resistance.
Source: https://u.today/100-xrp-network-surge-in-24-hours-what-to-expect-from-price
