What to Know:
- XRP rebounded from $1.08 lows, marking the strongest recovery attempt yet.
- The XRP Ledger activity remained resilient despite prolonged market weakness.
- Key resistance near $1.23 could determine XRP’s next direction.
XRP has delivered its strongest recovery attempt in weeks, rebounding from recent lows while activity on the XRP Ledger remains relatively stable. The move has attracted attention because network usage has not fallen at the same pace as the asset’s price.
Recently, the price dropped toward $1.08 during an extended period of selling pressure, but buyers quickly returned and pushed XRP back toward the $1.20 region. Â Consequently, the asset has formed a series of higher lows, signaling a notable shift from the persistent weakness seen throughout the recent downturn.
Market sentiment deteriorated significantly when XRP lost the important $1.32 support level and slipped below its 50-day exponential moving average. Those developments accelerated selling activity and increased concerns about additional downside risks.
Nevertheless, the latest rebound suggests that buyers are beginning to challenge the bearish trend. According to market analysis, XRP has not recorded a stronger bullish response since falling below the 50-day EMA. Additionally, several technical indicators are beginning to show signs of improvement following weeks of negative price action.
XRP Ledger Activity Provides Additional Support
One of the most notable developments during the correction has been the resilience of activity on the XRP Ledger. While the token’s market value declined substantially, network participation remained stronger than many traders expected.
Transaction volume continued to operate above levels often associated with weak network engagement. Moreover, payment activity remained elevated throughout much of the correction despite unfavorable market conditions.
Also Read: XRP Holds Key Support as EGRAG Confirms First Bullish Target Hit
Source: Tradingview
Although transaction counts and payment volumes have moderated in recent sessions, the decline has been considerably smaller than XRP’s price drop. As a result, underlying network usage continues to suggest that activity on the ledger remains intact.
The Relative Strength Index has also recovered from oversold territory and returned to neutral levels. Historically, similar recoveries have often supported short-term relief rallies following major liquidation events.
XRP now faces immediate resistance between $1.22 and $1.23. A successful breakout above that range could strengthen bullish momentum and create a path toward the $1.32 level. However, the asset remains below its major moving averages, meaning traders are still watching closely for confirmation that the recovery can continue.
Also Read: Peter Brandt Sees Bitcoin Stuck in Downtrend Despite $127,500 Cycle Target
