The XRP Ledger has recorded a significant boost in activity, processing over 1.2 million payments in a single day. This marks the highest daily volume in several months, and signals renewed strength in network participation.
According to the data observed, this transaction spike reflects the increasing use of the XRP Ledger for real-time payments. The milestone also emphasizes XRP’s relevance as a digital asset focused on cross-border settlement.
Despite the notable surge in on-chain volume, XRP’s price remains locked in a narrow range. It is in a symmetrical triangle formation, with support at 2.09 slightly above and resistance at 2.27.
Recently, XRP touched the upper bound of the triangle but failed to break through. It has receded since then, and it was close to the 100-day Exponential Moving Average, which serves as a critical technical support point.
This zone is being keenly observed in the market as the point of potential future movement. If the 100 EMA is strongly recovered, one more attempt at resistance may occur.
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Technical Barriers Limit Price Reaction Despite Network Strength
Meanwhile, the Relative Strength Index (RSI) is holding around 44, suggesting that the market is currently neutral. However, a shift in sentiment could spark renewed buying interest, especially given the high transaction throughput on the ledger.
Source: Tradingview
Notably, the ongoing network activity is viewed not as a one-off event but as a signal of deeper engagement with XRP’s underlying technology. With this type of usage persisting, it is possible to increase investor confidence in the asset’s utility.
The wider fundamentals are still positive even though the overall price action is technically uncertain. A steady increase in ledger activity can even presuppose a change in market value, though prices are temporarily range-bound.
Following the performance of the XRP token’s on-chain metrics relative to its market value, investors are speculating that the coin may be positioning itself to break out. The continued increase in transactions may be the needle that moves sentiment towards a bullish move.
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