XRP has recorded one of its most aggressive short-term rallies in recent months, gaining nearly 50% within just three weeks, driven by a surge in transaction volumes.
XRP's Sharp Growth in a Short Time
XRP surged from below $2.40 to over $3.60 in early July, supported by a strong technical structure and a sharp rise in on-chain activity. On July 18, XRP posted more than $1.07 billion in transfer volume, marking the highest level in over a month.
Network Activity and Its Impact on the Ecosystem
The increase in transaction volume indicates deeper ecosystem involvement, potentially driven by rising utility or institutional interest. Such volume is typically seen only when significant changes in network fundamentals or user behavior occur.
Technical Indicators and XRP's Future
Currently, XRP maintains a bullish momentum. After breaching resistance levels at $2.39, $2.68, and $2.80, the price remains above these points, which now serve as support. The Relative Strength Index (RSI) is above 84, indicating a potential short-term cooling trend.
Nevertheless, XRP's recent gains and consistent transaction volumes reflect growing confidence in the asset and its market strength.
