XRP Shows Potential for Continued Gains Amid Rising On-Chain Payment Volume and Technical Momentum

Key Points

1. XRP's on-chain payment volume surged to over $1.07 billion on July 18, indicating renewed market activity and growing relevance.

2. XRP's price has risen from below $2.40 in early July to surpass $3.60, breaking through key resistance levels at $2.39, $2.68, and $2.80.

3. The asset's upward momentum is confirmed by all three major moving averages (50, 100, and 200-day lines) trending upwards, though the RSI nearing 84 suggests potential short-term consolidation.

4. Key price levels to watch include the recent high of approximately $3.64 and psychological barriers like the $4.00 mark, with support levels at $2.80 and $2.39.

5. The increase in on-chain payment volume may reflect broader adoption of the XRP Ledger, signaling a positive outlook for XRP's future.