XRP holds $2.27 as XRPL logs 1.6M daily transactions, but low spot volume keeps price breakout on hold.
Despite surging on-chain activity, XRP trades below key resistance levels as buyers hesitate without volume confirmation.
XRP forms higher lows and reclaims $2.27, yet pressure builds under $2.55 without matching spot volume momentum.
XRP remains steady near $2.27 despite a dramatic spike in network usage, crossing 1.6 million daily transactions. While this surge signals expanding utility, trading volume hasn’t followed suit, leaving price momentum capped—for now.
Network Activity Surges but Price Faces Resistance
XRP’s recent structure shows a rising triangle pattern, marked by higher lows and strong resistance near $2.28. Over the past three sessions, XRP has held key levels between $2.22 and $2.27 with tight consolidation. This reflects a coiling market, where demand builds while traders await a decisive breakout.
https://twitter.com/thecryptobasic/status/1942456774839136487
As in the post above, analyst The Crypto Basic has presented a detailed analysis of this unusual divergence. He explained that the XRP Ledger’s 1.6 million transactions reflect real settlement usage rather than speculative buying. According to Ripple Van Wickle, this shift points to deeper institutional or enterprise-level activity—not retail hype.
More users are settling transactions directly on-chain, signaling real usage behind the growing ledger activity. Still, this shift hasn’t fully played out. He noted that while ledger activity soared, XRP's spot trading volume stayed flat around $1.9 billion over three days. He highlighted this divergence as a missing ingredient for sustained price growth.
Another key consideration is that XRP traded below $2.22 and $2.23 during this spike in on-chain activity. Both levels acted as strong resistance until XRP pushed through, reclaiming $2.27 on July 6. This recovery came alongside a 111% jump in trading volume to $2.49 billion, suggesting that buyer interest finally caught up with ledger activity.
Spot Volume Lag and Key Breakout Levels Ahead
Ripple Van Wickle further emphasized that XRP still sits below two critical resistance points: $2.40 and $2.55. In his view, clearing both levels with strong spot activity would confirm the breakout traders expect. Beyond this, it’s important to recognize that higher lows have continued to form since June, supporting the bullish triangle structure.
Wickle also stated that XRP’s current setup mirrors past rally zones-where transaction and trading volumes spiked in tandem. This time, only one leg has moved. Until trading activity aligns, he cautioned that the upside remains limited. Yet XRP’s chart suggests the pressure is mounting, and buyers could take control if volume expands further.
XRP now trades at $2.27894-just beneath its breakout zone. Traders are watching this zone closely as sentiment builds.
The post XRP Breaks $2.27 on 1.6M Ledger Transactions, but Traders Still Hold Back appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
