Will Retail Bulls Push XRP Beyond $3.00 ?

Ripple (XRP) price hit $2.84 on Feb 15, rising 22% as it prints 5 consecutive daily green candles. On-chain data trends show increased retail activity on the XRP ledger network could see XRP price hold relatively high support levels as euphoria from SEC acknowledging XRP and DOGE etfs subsides.

Ripple (XRP) Racks Up 22% Gains in 5 Consecutive Days in Green

Ripple (XRP) was among the standout performers in the crypto markets this week, outperforming Bitcoin (BTC) and Ethereum (ETH) as it surged 22% over five consecutive days. This rally was fueled by two major catalysts: Ripple’s decision to drop charges against XRP and the U.S. Securities and Exchange Commission (SEC) acknowledging an XRP spot ETF filing. The combination of favorable regulatory developments and rising investor sentiment triggered a notable influx of capital into XRP.

The Ripple price chart above illustrates its impressive rally, climbing from an opening price of $2.40 on Monday, Feb. 10, to a peak of $2.84 by Saturday, Feb. 15. This sustained upward momentum has propelled XRP’s market capitalization above $155 billion at press time. The five consecutive daily green candles indicate a strong bullish trend, suggesting that demand remains robust even as broader market sentiment stabilizes following the SEC’s latest regulatory actions.

Historically, such sustained upward movements have signaled an extended bullish phase. If current momentum holds, XRP could see further upside potential, with the next key resistance levels forming near the $3.00 psychological threshold. However, traders will be closely watching whether XRP can maintain support levels in case of profit-taking in the coming days.

Retail Demand Drives up XRP Ledger Blockchain Network Activity by 39%

While much of the media attention has focused on the SEC’s acknowledgment of the XRP spot ETF filing and Ripple dropping charges against XRP, on-chain data suggests another key bullish factor at play: a significant rise in network activity.

CryptoQuant’s Active Addresses chart, which tracks the daily number of unique addresses executing transactions, indicates a sharp rise in user engagement on the XRP Ledger. Typically, an increase in active addresses suggests growing retail interest, as individual traders transact more frequently.

The chart above reveals that active addresses surged 39%, rising from 24,272 on Feb. 5 to 33,801 on Feb. 14. This increase in network activity coincides with XRP’s price rally, indicating that the current bullish trend is being driven by organic retail demand rather than isolated whale movements. When a rally is accompanied by heightened retail participation, it tends to establish firmer support levels, reducing the likelihood of an abrupt price correction.

This trend suggests that XRP’s price surge is not merely speculative but supported by a broader user base. With heightened transaction activity backing the price rally, XRP could maintain relatively strong support even as market euphoria surrounding the SEC’s acknowledgment cools down.

XRP Price Forecast: Bulls to Hold $2.50 Support if Rally Stalls

XRP’s recent surge has positioned it within a strong technical uptrend, currently trading at $2.77. The chart signals a bullish structure, with XRP hovering above key moving averages and consolidating gains.

The 50-day Simple Moving Average (SMA) at $2.68 now acts as immediate support, reinforcing the bullish outlook. Additionally, the Volume-Weighted Average Price (VWAP) at $2.77 suggests that XRP is trading near its fair market value, indicating stability in buying momentum. If bulls sustain price action above this level, XRP could look to retest the $2.84 resistance, with an extended breakout paving the way for a potential move toward the $3.00 mark.

Conversely, a failure to maintain current levels could see XRP test lower support zones. The 100-day SMA, currently positioned near $2.50, represents a crucial defensive line for bulls. A drop below this threshold could signal a loss of momentum, exposing XRP to a retracement toward the $2.30 region, where stronger buying interest is likely to reemerge.

Overall, XRP remains in a bullish posture as long as it maintains support above $2.50. The ongoing surge in retail participation and positive regulatory catalysts provide strong tailwinds, though traders should remain cautious of potential profit-taking at key resistance zones.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.