XRP Rises 3% to $2.222 Amid Increased On-Chain Activity
XRP increased by 3% in the last 24 hours, rising from $2.157 to $2.222 amid market volatility due to geopolitical tensions. Key factors include:
- Over 500 million tokens transacted in a single day driving technical momentum.
- Heightened trade disputes have created uncertainty around traditional payment systems.
- XRP’s capability for fast, low-cost international transactions is attracting interest from retail and institutional traders.
- Ripple's RLUSD stablecoin gained regulatory approval from Dubai's financial authority.
Price Action
Technical analysis indicates a clear uptrend for XRP, with significant volume spikes exceeding 55 million at times. Key points include:
- XRP broke resistance at $2.190 and established support around $2.192-$2.195.
- A recent pullback to $2.194 is viewed as healthy consolidation after testing $2.225.
- The price surged from $2.194 to $2.199 with over 5 million tokens exchanged at 08:01.
- Consecutive green candles and rising volume suggest potential upward movement towards $2.225.
XRP's role as a cross-border payment asset and increasing transaction volumes highlight its relevance in the current financial landscape.