XRP Shows Potential Strength Amid Rising Network Activity and Price Support
Main Idea
XRP demonstrates potential strength with rising network activity and price support, as evidenced by a three-month high in transactions and resilient technical indicators.
Key Points
1. XRP's blockchain recorded 2.59 million transactions on July 24, the highest daily volume in three months, indicating increased real-world utility.
2. Technically, XRP remains above critical moving averages (50 EMA, 100 EMA, 200 EMA), with the $2.99 resistance level now acting as a solid support zone.
3. The decoupling of XRP's price and transaction volume highlights its functional strength and long-term adoption potential.
4. Investors are advised to monitor network activity and technical indicators like the RSI to gauge XRP's future trajectory.
5. Maintaining support above $2.99 is critical for both traders and long-term holders.
Description
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