XRP Metric Surges by 200% — Implications for Its Price

Both technical and fundamental indicators are backing the positive momentum of XRP, especially with over 22.14 million XRP being traded between accounts. An analyst suggests that XRP might reach $21.9 soon, but it needs to break above the $227 mark decisively. After a notable rise of 21% in its daily price chart and an 8.763% increase on its weekly chart, XRP has successfully recovered to the $231 level. Market data reveals that XRP’s trading volume has risen notably by 28.76% from the day before, with $213 billion being exchanged at the current time. An analysis of its on-chain activities indicates that transactions between two accounts have surged, exceeding 215 million XRP. This represents a 200% increase compared to the number documented last month. Analysts interpreted this change as an indication of growing interest from institutions. At the same time, a persistent descending triangle resistance on the daily chart, which limited price increases during the first quarter, has now been surpassed. Source: TradingView. Analysts suggest that if the price maintains a solid position above the 21, 50, and 100 Exponential Moving Averages, it may reach $3. In favor of this shift, we observed that the Relative Strength Index (RSI) for XRP has hit 63, suggesting a positive upward trend. The price might advance closer to its peak of $133 before entering the overbought zone at 70, according to an analyst discussing XRP. In the XRP conversation, another analyst, Egrag Crypto, pointed out that any fluctuations occurring between $2.15 and $2.41 are insignificant.