XRP Network Comeback Imminent, Data Shows

The XRP network’s average number of transactions per ledger has increased noticeably, which is encouraging for its ecosystem. This rise indicates that the network is becoming more active and utilized, which could indicate interest from institutional and retail players. On-chain activity seems to be improving, but the price performance of XRP paints a more complex picture.

As a result of continuous volatility, XRP is currently trading at about $1.80. The asset still has trouble maintaining its upward momentum even with the rise in network transactions. XRP has been struggling to overcome its 26 EMA, a significant resistance level that, if overcome, could open up additional gains. Nevertheless, a lack of immediate bullish conviction is indicated by repeated failures to break this level.

A more prolonged downtrend may ensue from any breakdown below XRP’s $1.42 level, which is a crucial support area on the downside. An upward breakout above $2.10 would be crucial, possibly reviving investor confidence and opening the door for a test of the $2.50 level. Long-term price recovery may be fundamentally accelerated by the increasing number of transactions on the XRP network.

Increased utility is frequently reflected in higher transaction volumes, which may draw more ecosystem participants. Nevertheless, the correlation between price and on-chain activity is not always instantaneous, and short-term fluctuations are heavily influenced by market sentiment. Investors and traders in XRP should keep a careful eye on the 26 EMA resistance and the $1.42 support for the time being.

The asset’s next significant move could be determined by a breakout in either direction. Although the increase in transactions is positive, there are still major obstacles facing XRP’s price, so market players should exercise caution.

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