Over 640 million XRP tokens were transferred on-chain in the past 24 hours, sparking renewed interest in the asset’s price movement. This sharp rise in transaction activity comes as XRP stabilizes above the $2.30 level, a key support zone that could determine the next directional move.
According to on-chain data, 610 million XRP was switched between wallets on May 19. Since payments using XRP have grown, this suggests that more users are seeing value in the system and may be buying before a major price change. The asset’s current technical condition indicates that it is still holding higher than key support levels.
The current price for XRP is just above its 26-day Exponential Moving Average at $2.32. This area has kept providing support and resistance in the past few weeks. Most recently, the price has encountered this zone several times, remaining strong even as prices fell from $2.70.
While the trading volume keeps things slow, the increasing transaction count indicates that the market is getting stronger. A climax above the 26 EMA might return to the $2.50–$2.70 zone only if volume increases.
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Increased On-Chain Activity Signals Investor Interest
The recent surge in payment volume provides early evidence that the XRP network is seeing higher usage. Large-scale token movements often precede significant price developments, offering a potential hint that buyers are preparing for upward action.
However, if XRP fails to hold above the $2.30 support, a drop toward the $2.10 level could follow. The EMA at the 100-day level sits here; this zone has previously supported prices.
Source: Tradingview
Although consolidation could last a bit longer, the significant support, combined with higher on-chain activity, is encouraging for a possible upside. Signals from technical indicators and blockchain reveal an important period for XRP ahead.
As support is maintained and activity on the XRP blockchain improves, attention is focused on when it will break out. If the momentum around $2.30 lasts, Ethereum may move higher as network use increases.
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