XRP Trading Activity Surges 134% as Price Eyes Breakout Zone

Recent data from blockchain analytics firm Glassnode shows that XRP is experiencing increased short-term trading activity. Between April 20 and April 28, short-term investment inflows, also known as “hot capital,” rose from $0.92 billion to $2.17 billion. Meanwhile, the rise is 134.9 percent in less than 7 days.

“Hot capital” refers to digital assets mainly utilised for speculative trades by keeping them in hand for fewer than seven days. This is indicative of a rising investors interest in the short term. The same can be supported by Glassnode’s Realized Cap by Age chart which shows an increase in the darker shaded regions depicting new holdings.

Despite going up, XRP’s weekly inflows are still below its previous $7.66 billion peak from December 2024. But that high point also means that the current figure is still almost 72 percent lower. Still, the recent jump hints at traders coming back to XRP, potentially inspired by overall movement in the crypto market.

Price Movement and Resistance Levels

At press time, XRP price was trading at $2.24, based on Coingacko data. In the last 24 hours, the price has dropped by 2.19 percent and 1.35 percent over the last week. Over the past few weeks, XRP has been moving around the $2 level, rising slightly during periods of buying interest and then falling again.

Over the past 24 hours, it has traded between $2.22 and $2.30. Since the past week, the range has been between $2.13 to $2.33. The price touched $2.36 on April 28, but it fell again and now sits at the $2.28 mark.

Analyst Edoardo Farina of XRPHealthcare commented on the consistent drop to the $2.20 mark: “XRP will not stay at the $2.2 region forever.” In changing market conditions, he suggested that current price zone may give way to stable upward trend.

Technical Patterns Indicate Potential Breakout

Crypto chart analyst EGRAG CRYPTO shared a long-range analysis of XRP’s price using monthly candle patterns, highlighting that the asset is now forming its fifth consecutive candle above the 21-month EMA—a level previously linked to major upward movements.

Referencing a past instance where a sharp rally followed the sixth candle, the analyst stated, “With Candle 5 now in place, we may be approaching a strong monthly breakout if the same trend unfolds.”

In this model, XRP is said to be inside a long-term price channel, referred to as the “MACRO CHANNEL,” with upper price targets at $17, $27, and a possible move to $55 if the full breakout plays out.

However, the analyst mentioned a plan to sell gradually as the price rises, with $27 being a personal focus level.

Regulatory Developments May Influence Market Direction

Regulatory XRP news continues to play a role in XRP’s market sentiment. On April 30, the U.S. SEC delayed its decision on the XRP ETF application from Franklin Templeton.

In this context, these delays bring uncertainty into the market, as investors postpone their investments waiting for more.

The SEC’s decision is being watched closely because an ETF approval could lead to increased institutional involvement in XRP. Nevertheless, the nervousness on the part of investors may last in the short term due to the delay.

The regulatory pause aside, XRP’s total circulating supply is 58 billion with a total market capitalization of about $130.7 billion. As a result, XRP is among the highest ranking digital assets by total market cap.

As XRP continues to trade around the $2.20 level, market watchers are keeping an eye on price behavior and volume changes. Technical analysts are also looking at candle patterns and general market movements in order to predict future possible price directions.