Recent price movements of XRP have sparked discussions among traders following an unsuccessful breakout attempt. The token briefly climbed above $3.10 but quickly fell back below $3.08, leaving many in uncertainty.
XRP Price Dynamics
XRP's attempt to break above the resistance line has not succeeded. The token rose above $3.10 but quickly fell back below $3.08, raising doubts about the strength of the breakout. This failure creates uncertainty about whether XRP's advance was a valid breakout or merely a bull trap.
Decline in Blockchain Activity
According to recent data, activity on the XRP Ledger has sharply declined, adding another level of uncertainty. From September 12, the number of executed transactions dropped from over 11.7 million, which is considered a bearish signal. The decline in transactions indicates weakened conviction among network participants at a time when XRP needed stronger support.
Possible Future Scenarios
Market observers now highlight two likely scenarios for XRP. A bullish scenario would require XRP to quickly reclaim the $3.10 level with rising volume and a revival in on-chain activity. Conversely, if XRP fails to secure $3.10, bears may regain control, pulling the price back to $2.81 or even lower to $2.50.
XRP stands at a turning point, where price levels and network activity present mixed signals. Traders are closely watching the $3.10 zone and monitoring whether on-chain participation improves before committing to a direction.
