The XRP Ledger has recorded a significant spike in network activity with daily transactions reaching 1.6 million, signaling accelerated adoption and utility growth. This surge represents heightened on-chain usage as developers and users increasingly leverage the blockchain for payments and tokenization.
Despite the transaction milestone, XRP’s market price remains constrained near $2.27, struggling to overcome key resistance levels at $2.40 and $2.55. The stagnation persists despite the 111% growth in trading activity correlated with on-chain operations, prompting market analysts to note the absence of sustained upward momentum.
The primary barrier to price appreciation appears to be stagnant spot trading volume, which remains flat at approximately $1.9 billion. Though chart patterns indicate bullish signals with higher lows since June forming a potential ascending triangle, the missing catalyst of significant spot volume continues to suppress any decisive breakout beyond current resistance thresholds.