- XRP rallies 50 percent as transaction volume surpasses $1 billion.
- Key resistance levels flipped, bullish momentum holds above moving averages.
- On-chain data hints at deeper network activity and investor confidence.
XRP has recorded one of its most aggressive short-term rallies in recent months, posting a near 50 percent gain within just three weeks.
The asset surged from below $2.40 at the beginning of July to over $3.60, supported by a strong technical structure and a sharp rise in on-chain activity.
On July 18, XRP posted over $1.07 billion in transfer volume across accounts, the highest in more than a month. This sudden increase in the flow of transactions represents a critical switch and implies a new wave of confidence in XRP holders.
The high figures of payments also show a more entrenched ecosystem activity, perhaps caused by movement stimulated by utility or a higher activity of institutions.
XRP’s technical momentum is still gaining pace. After breaking above the resistance levels of $2.39, $2.68, and $2.80, the price has managed to hold the resistance-turned-support levels at the aforementioned positions.
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Most of these levels, which acted as key barriers earlier, have turned into strong demand zones. The price movement is also quite good, with the moving averages of 50, 100, and 200 days trending upwards.
Relative Strength Index (RSI) is already at more than 84 levels, which is an overbought level. This can be read to mean a possible near term cooling, but history points out that we have seen the likes of this jump in transaction volume followed by prolonged up trending price in the short run.
The concern is that traders are watching closely at the new peak of $3.64 as an important level. An upsurge of such a mark would likely pave the way to the psychological level of $4.00.
Source: Tradingview
Network Activity Signals Deeper Ecosystem Movement
Significantly, the sharp increase in payment volume is not occurring in isolation. It points to a broader development within the XRP Ledger that may involve growing utility or institutional alignment.
Such a volume is not usually experienced unless a radical change in network fundamentals or user behaviour occurs.
As with past trends, it is expected that whenever there is a sustained transaction velocity of this magnitude, there is a reasonable chance that activity will be long-term instead of purely a speculative blip.
Rebounds at the $2.80 and $2.39 levels are expected to be closely watched in the event of a market correction. These have become critical supports in case there is a price drop before another possible leg up.
Additionally, the asset’s current position above major moving averages supports the bullish mood, which is correlated with positive trends according to the on-chain data that are being formed.
XRP has been acting bullishly in terms of price performance, with a big gain in the transaction volume of on-chain payments, which indicates a recovering bullish outlook.
While short-term corrections remain possible due to technical indicators, the broader outlook reflects growing confidence in the asset’s network and market strength.
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