XRP Ledger Payment Volume Surges 140% as User Activity Increases
- Surge in Payment Volume: The XRP Ledger recorded over 1.37 billion XRP in payments within 24 hours, reflecting a 140% increase, indicating a significant rise in user engagement and suggesting the network is attracting more participants.
- Increase in Transaction Count: The simultaneous rise in the number of transactions between accounts is considered a strong indicator of genuine network use, showing that the growth was driven by widespread user activity rather than isolated large transfers.
- Ongoing Price Pressure: Despite the uptick in network activity, XRP's price remains under pressure, trading below several key moving averages, with current levels indicating stabilization near long-term support, highlighting a divergence between price performance and network fundamentals.
- Potential Accumulation Signals: Amid a broader market downturn, XRP's network continues to show strong usage signs, with sustained transaction counts suggesting positioning by institutional holders rather than abandonment, indicating that the groundwork for a potential price recovery could be solidifying.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP) As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.619 | 0.868 | 1.159 | 1.408 | 1.699 | 1.948 | 2.239 |
| Fibonacci | 0.868 | 1.074 | 1.202 | 1.408 | 1.614 | 1.742 | 1.948 |
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