XRP Shows Potential Strength Amid Rising Network Activity and Price Support

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.