🪙 $XRP on Verge of 1,000,000: Fundamental Threshold

With the 200 EMA hovering just below it like a do-or-die level, XRP is currently at an intriguing crossroads as its price is clinging to the $2.20 zone. Beyond price charts, however, there is a more significant development at play: XRP's on-chain activity is getting close to a significant milestone: one million active transactions. Not just a figure, this indicates how vibrant the network is and how much real-world use it is receiving.

With resistance at $2.30 and $2.25 and the 200 EMA serving as a critical support at $2.08, the price of XRP is technically trapped in a narrowing wedge. There may be a collision in momentum as the 50 EMA recently crossed the 10 EMA. The transaction volume is what ignites a bullish undercurrent even though price action is still capped. There is no denying the enormity of network activity.

One million transactions is a fundamental threshold, not just a psychological milestone. Transaction volume increases have historically come before or alongside bullish reversals. This is a powerful factor, but it is not a guarantee: a network that is thriving is one that is alive, and networks that are alive eventually show up in price. But the odds are not in your favor.

The price chart shows that XRP's volume is decreasing, indicating that market players are keeping an eye on it but are not taking any aggressive action until they have confirmation. Although there is not yet any overbought threat, the RSI is hovering around 44, indicating that there is not any clear indication of exhaustion either. What comes next? It will be difficult for bears to claim that this is not the start of a more significant reversal if XRP can maintain above the 200 EMA and as active transactions surpass the one million mark.

On the other hand, if $2.08 is not held, #XRP may fall back into the $1.90s. To put it briefly, the price is being stabilized by the fundamental network activity working overtime. If that milestone is set, XRP may use it as a launching pad to return to $2.50 and higher.