With chain metrics and price action aligning for the first time in weeks, the $XRP has begun
in regaining its activity. The network saw over 1.6 million XRP transactions in the last day, representing a notable increase in activity compared to the sluggish volume that characterized most of June.
This increase in chain usage could be the first sign of a shift in direction, especially as traders seek other catalysts beyond Bitcoin and Ethereum. $XRP is gradually regaining strength against upper resistance on the price chart. The asset is now stabilizing around $2.19 after rising from the $2.10 area, which has served as critical support since April.
This move surpassed the 200 exponential moving average (black), bringing #XRP close to the 50 and 100 exponential moving averages, which form a narrow resistance range at $2.25.
Although trading volume has slightly increased, indicating renewed interest, acceleration is still necessary for a long-term breakthrough. Technical indicators are encouraging but cautious. The Relative Strength Index has risen above 50, indicating a shift in momentum from neutral to slightly bullish. However, so far, there is no concrete evidence that this is more than just a relief rally. To maintain movements beyond significant psychological thresholds, the $XRP historically needed a rise in both trading volume and network activity, and the $2.50 level is that rise.
For XRP to reach $2.50, it must first successfully break through the moving averages between $2.25 and $2.30 and stay above them. The next challenge is to reclaim the $2.40 area, which has repeatedly capped price increases in May. While it depends on the continued growth of momentum, this scenario is possible given the recent uptick in network activity.
In summary: with price action pressing against resistance and network transactions rising to 1.6 million in a single day, #XRPUSDT is regaining its momentum. Overcoming the inherent selling pressure will require more than one push, but moving towards $2.50 is possible if trading volume continues to increase and buyers show conviction. The critical battleground for the next rise is the $2.25-$2.30 area, so pay close attention to it. #StrategyBTCPurchase #NODEBinanceTGE #USCorePCEMay