A sharp uptick in XRP ledger activity has caught traders’ attention. Over 1.29 million XRP moved across the network in just 24 hours, raising hopes of a bullish trend even as the price holds steady.
On-Chain Strength Meets Market Caution
The spike in transactions highlights growing network activity, a strong fundamental sign for XRP. While spot trading volumes remain muted, the underlying engagement on-chain paints a different picture.
Despite this surge, XRP’s price is consolidating around $2.83–$2.84. Traders are closely watching whether this calm period precedes a larger move.
Key Levels to Watch
For the short term, XRP’s technical setup provides clear markers:
- Support rests near $2.77. A drop below could send XRP toward the 200-day moving average around $2.57.
- Resistance stands at $2.91. Reclaiming this level would ease selling pressure.
- A breakout above the 50-day moving average in the $3.05–$3.10 range could trigger stronger upside momentum.
This range is creating a symmetrical triangle pattern, a setup that often leads to sharp swings. A clean break above $3.05 could open paths toward $3.40–$3.65, and if momentum accelerates, even $4.50–$5.00.
Catalysts Beyond the Charts
The bullish case for XRP doesn’t rely only on technicals. Several broader trends support optimism:
- Institutional activity has been rising, with settlement volumes previously hitting as high as 844 million XRP in a single day.
- The possibility of a spot XRP ETF is gaining traction as regulatory clarity improves in the U.S.
- Retail traders continue to show interest, with open interest near $2.87 billion and funding rates climbing.
- Utility is expanding, with products like Gemini’s XRP credit card adding real-world use cases.
The mid-September transaction spike marks a potentially important shift in XRP’s market narrative. While the price is still consolidating, the combination of technical setups, rising institutional demand, and growing retail activity suggests that a breakout could be on the horizon. Traders should keep a close watch on the $2.91 and $3.05–$3.10 levels as the next big test for XRP’s momentum.
