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An increase in network activity indicates that XRP has made a significant comeback. XRP saw more than 2.2 million transactions in the last day, which is among the most active days in recent memory. The rise in successful transaction execution and the increase in transactions indicate that interest in XRP is reviving. After its recent decline, XRP is displaying signs of resilience from a technical standpoint.
The price is trying to break through important resistance levels while circling $2.42. With the 50-day moving average serving as a crucial short-term resistance, the moving averages show a conflict between bulls and bears. There may be a push toward $2.60 and higher if XRP can maintain its current momentum.
A resurgence of interest in XRP's usefulness is also indicated by the rise in transaction volume. Users are actively interacting with the ecosystem, as evidenced by the large number of successful transactions processed by the network. Institutional changes or a rise in demand for cross-border payments, an area in which XRP has traditionally excelled, could be the cause of this.
Yuri MolchanBut even with these positive indications, XRP continues to encounter formidable opposition. To stop additional downward pressure, the prior support levels around $2.30 must remain intact. One could anticipate a retest of the $2.20 zone if selling pressure increases. The important levels for investors to keep an eye on are still $2.50 and $2.60 on the upside; a decline below $2.20 might indicate additional weakness.
Arman ShirinyanThough market sentiment and outside variables will be key in determining its next course, on-chain activity at the moment indicates that XRP has the potential for additional gains. All things considered, XRP's recent network activity and performance point to a potential change in momentum. The asset may see a resurgence of bullish sentiment if the trend continues, but it is still imperative to keep a careful eye on market conditions.
Dan Burgin
Vladislav Sopov