$XRP XRP has seen a notable increase in on-chain activity, showing a 50% increase in payments over 24 hours. This surge comes in a cryptocurrency market that still experiences uncertainty, indicating a subtle signal of a trend reversal.
On June 14, the XRP Ledger experienced a sudden spike in activity, processing over 1.34 million payments in a single day, representing a 50% increase compared to the daily average of the previous month.
This sudden spike is believed to be related to an increase in institutional volume or an overall increase in network usage, rather than just technical volatility. Historically, such movements in XRP often precede price reversal phases.
This increase in network activity comes at a time when XRP is developing in a particularly sensitive technical setup. Several technical signals indicate a favorable setup: compression between moving averages, a rebound on the 200-day exponential moving average (200 EMA), and a neutral Relative Strength Index (RSI).
The resistance from $2.32 to $2.40 forms a key area. In the event of a breakout, targets could reach between $2.60 and $3.00. However, a pullback to $2.00 is still possible if the increase in activity does not follow with sustained momentum.
This "explosion" in XRP activity, thanks to the "awakening of the whales" (large investors), indicates a potential bullish scenario, but it remains uncertain. While the market seems to be waiting for a clear signal, technical and network elements converge towards a pivotal moment.
