XRP has experienced a notable increase in activity, with over 1.6 million transactions processed in the past 24 hours. This marks a significant uptick compared to the slow volume observed throughout June.
The rise in on-chain usage aligns with improving price momentum, as XRP consolidates near $2.19 following a climb from the $2.10 support level that has held since April. The recent move allowed XRP to surpass its 200-day EMA, approaching the 50 and 100-day EMAs, which present resistance between $2.25 and $2.30.
Although trading volume has increased modestly, further acceleration is needed to sustain a breakout. The Relative Strength Index (RSI) has moved above 50, signaling a shift to mild bullish momentum. However, there is yet no definitive evidence that this is more than a temporary recovery.
For XRP to reach $2.50, it must break and hold above the $2.25-$2.30 resistance zone and then target the $2.40 level, which capped gains in May. Given the recent surge in network activity, this upward trajectory remains plausible if buyers maintain momentum and volume continues to rise.
In summary, XRP is gaining traction with rising transaction volume and positive price action. Overcoming strong resistance at $2.25-$2.30 is critical for further gains, making this zone an important focus for traders eyeing a move toward $2.50.