XRP recorded a major uptick in activity on April 22, with over 657 million tokens transacted in a single day. This marked one of the asset’s busiest days in recent weeks and reflected growing interest from market participants.
According to on-chain data, the spike in volume aligns with a notable 8.57% price increase, bringing XRP to $2.28. Moreover, the 24-hour trading volume surged to $5.69 billion, representing a 130.64% rise compared to the previous day.
Investor confidence significantly rose because of the substantial jump in market trading volume. The market capitalization value of XRP reached $133.68 billion during a day that matched its price increase.
Source: CoinMarketCap
XRP managed to surpass a major resistance boundary at $2.20 that formerly acted as an obstacle to price growth. The price has overcome both the 50-day and 100-day exponential moving averages to reach $2.27 and $2.24 respectively.
The recent price breakout signifies a fundamental adjustment in the price characteristics of XRP. Additionally, the bullish scenario is further supported by the visible green candles that are forming above the moving averages.
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XRP Ledger Activity Rises Alongside Market Performance
Meanwhile, account-to-account transfers on the XRP Ledger have also increased. This rise in transaction volume reflects not only heightened investor activity but also renewed utility across the network.
Technical indicators, including the Relative Strength Index, provide support for the price rising trend. The RSI indicator currently maintains a position greater than 58, suggesting an upward trend exists without violating overbought limits.
Source: Tradingview
Market attention now focuses on the $2.40 to $2.50 price range that corresponds with the downward trend created by previous market peaks. A successful price break above the specified level might start a movement that could drive the price to the $3 target area which was reached during previous market appreciation.
Analysts monitor the market for possible indications of either limited growth or a return to earlier levels. The sustainability of this upward shift depends on holding strength over important support areas.
Conclusion
XRP’s surge in daily volume, combined with strong price performance and increased ledger activity, signals a shift in market sentiment. If these trends persist, XRP may be positioned for further upside in the sessions ahead.
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