XRP Shows Signs of Potential Turnaround Amid Rising On-Chain Activity and Price Recovery
Main Idea
XRP's price has surged over 60% from recent lows, driven by record on-chain transaction volume and strong technical indicators, signaling a potential market turnaround.
Key Points
1. XRP's price rebounded from $2.75 to above $2.97, supported by the 26-day EMA and RSI indicators.
2. On August 2, the XRP network recorded a record 1.35 billion XRP in payments, indicating renewed transactional demand.
3. The surge in on-chain activity and technical support suggests a potential bullish breakout if XRP reclaims the $3.20-$3.40 price range.
4. Increased on-chain activity reflects higher network usage and demand, contributing to XRP's market recovery.
5. The combination of price support from EMAs, RSI stability, and elevated on-chain activity positions XRP for potential sustained gains.
Description
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