- XRP sees a 30% surge in active accounts, boosting optimism.
- User activity rise signals potential price rally for XRP soon.
- XRP consolidates near $3.00, eyes resistance at $3.10 level.
Ripple’s XRP network is witnessing a dramatic surge in activity, with the number of active accounts increasing by an impressive 30%. More than 26,000 distinct senders have been registered recently, which indicates a great recovery in user interaction.
This increase in activity is stoking confidence among investors and may be very influential to the performance of XRP on the market.
The Surge in Active Accounts: A Strong Signal for XRP’s Market Potential
The surge in active wallets represents a growing interest in XRP, which is often linked to the volume of transactions and usage on its blockchain. As a payment-focused network, XRP’s success largely depends on how many users are transacting, testing the network, or making cross-border payments.
Also Read: Why Bitcoin’s Scarcity and Decentralization Make It a Must-Hold Asset!
The recent increase in active accounts proves that XRP is regaining momentum, which can contribute to further price rises.
At present, XRP is accumulating around $3.00, and it is above the 50-day moving average and the 100-day moving average. Even though it is not as high as the market saw in July, the purchasing volume is steadily growing, which indicates that the market participants are gaining more confidence in the future of XRP.
Source: Tradingview
Critical Resistance Levels: Will XRP Breakthrough or Retreat?
However, the asset is facing resistance at the $3.10 level, which will be critical for any further upward movement. Once XRP cracks this resistance, there is a chance that it may climb to the $3.40-$3.50 range, especially when there is positive user activity. Conversely, without the momentum, XRP would retest the support at 2.78, which would show a potential pullback.
Although the surge in activity does not guarantee long-term growth, it can serve as a good base for a possible price boom in case the momentum persists. Traders and investors are watching closely as these developments unfold.
Also Read: XRP Ascending Triangle Trade In Progress – Here are Key Levels to Watch Today
