The recent surge in XRP market activity signals a potential breakout ahead. Transaction volume reached 659 million tokens, highlighting increasing investor interest.
Transaction Volume of XRP Increased Significantly
The transaction volume for XRP over the past day has reached 659 million tokens, indicating a significant uptick in network activity. This often precedes major directional movements in the asset's price.
Technical Structure and Support Levels
Currently, XRP is trading at approximately $2.29. The asset attempts to maintain a higher low above the ascending support line formed in June and early July. The Relative Strength Index (RSI) is rising close to 60, indicating increasing buying interest.
Risks and Expected Volatility
The sharp rise in transaction volume may also lead to volatility. If XRP cannot maintain support above $2.15, a rapid decline to the $2.00-$2.10 range could occur. The market structure and on-chain metrics favor an upside, yet traders should remain cautious in the face of increased volatility.
In summary, XRP may be heading towards a potential rise to $3.00, provided that trading volume remains high and support levels hold. However, the anticipated volatility requires a careful trading approach.
