XRP has surged over 60% from recent lows, driven by unprecedented on-chain transaction activity and positive technical signals that suggest a potential market turnaround.
The cryptocurrency rebounded from $2.75 to surpass $2.97, finding strong support at the 26-day Exponential Moving Average while maintaining stability on the Relative Strength Index (RSI).
On August 2, the XRP network processed a record 1.35 billion XRP in payments, marking the highest transactional volume ever recorded and signaling robust renewed demand.
The confluence of heightened on-chain activity and technical strength indicates a potential bullish breakout, contingent on XRP reclaiming the $3.20-$3.40 price range. Increased network utilization reflects growing market adoption.
Technical indicators, combined with fundamental network demand, position XRP for potential sustained gains as momentum builds in its ongoing recovery.