XRP price is consolidating around $2.83 despite the XRP Ledger reporting 1,289,000 successful transactions in the last 24 hours. Short-term direction depends on holding $2.77 support and reclaiming $2.91 resistance; a decisive break above $3.05–$3.10 would signal renewed bullish momentum.
XRP Ledger: 1,289,000 transactions in 24 hours (on‑chain activity spike)
Short-term pivot points: $2.77 support, $2.91 resistance; 50-day MA near $3.05–$3.10.
Volume low since mid‑August; RSI at 45 indicates mild hesitation in spot markets.
XRP price news: 1,289,000 daily XRP transactions; watch $2.77 support and $2.91 resistance for the short-term outlook and trade triggers. Read the technical and on‑chain analysis now.
What is the current XRP price outlook after the transaction spike?
XRP price is consolidating near $2.83 on Binance after a pullback from July highs. Strong on‑chain activity — 1,289,000 successful XRP Ledger transactions in 24 hours — suggests growing network utility, but short‑term momentum will depend on whether bulls can reclaim $2.91 and keep $2.77 intact.
How significant is the 1,289,000 daily transaction count?
The jump to 1,289,000 transactions is a meaningful on‑chain signal that network usage has increased. Historically, rising transaction counts have correlated with deeper adoption and utility. However, transaction volume alone does not guarantee immediate price appreciation — market liquidity, spot trading volume, and macro conditions matter too.
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XRP/USDT Chart by TradingView
How should traders monitor XRP support and resistance?
Front-load monitoring: track $2.77 as the immediate support and $2.91 as the local resistance. The 200‑day moving average (~$2.57) provides longer‑term support, while the 50‑day moving average is aligned with heavier resistance between $3.05 and $3.10.
| Level | Role | Implication |
|---|---|---|
| $2.77 | Short-term support | Hold to avoid deeper pullback toward 200‑day MA |
| $2.91 | Local resistance | Reclaiming reduces selling pressure |
| $3.05–$3.10 | 50‑day MA / resistance cluster | Break confirms bullish momentum |
| $2.57 | 200‑day MA | Stronger longer‑term support |
Volume trends show reduced daily trading activity since mid‑August, which tempers short‑term price moves even as on‑chain transaction counts rise. Technical indicators reflect this caution: the RSI at 45 sits slightly below neutral, suggesting neither strong buying nor selling bias.
Why do on‑chain spikes sometimes not immediately move price?
On‑chain activity measures network usage and transfer counts but does not directly equate to spot market demand. Transfers between custodial wallets, internal exchange movements, and non‑trade transactions can inflate counts. Market liquidity, order flow and macro sentiment determine whether network gains translate to price advances.
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The recent spike to 1,289,000 transactions was driven by increased on‑chain transfers and higher network usage. Specific causes can include increased payments, custodial transfers, or renewed developer activity. Data comes from on‑chain metrics and network explorers (on‑chain data).
Conservative traders should wait for confirmation: a clear close above $2.91 and then $3.05–$3.10 on higher volume before adding exposure. Use tight risk management and respect the 200‑day MA near $2.57 as a longer‑term stop reference.
Rising XRP Ledger transactions point toward expanding network utility, but the short‑term XRP price outlook remains contingent on technical confirmation. Traders should prioritize $2.77 support and a successful reclaim of $2.91 to reduce downside risk. Monitor volume and RSI for clearer signals and reassess positions if $3.05–$3.10 is decisively broken. COINOTAG will continue to update this technical and on‑chain coverage as new data emerges.
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