XRP On-Chain to 1.35B Sparks 60% Rally Toward $3.4 Breakout
XRP on-chain activity surged to 1.35 billion XRP in daily transfers on August 2, driving a 60% price rally from a low of $2.75 to above $2.97. Key technical indicators held firm: the 26-day EMA provided support, while the RSI bounced off the mid-50 line, confirming a market reset. Rising trading volume and consecutive green candles signal strong accumulation. This uptick in XRP on-chain activity suggests rising network demand and could lay the foundation for sustained growth. Traders now target a decisive breakout above the $3.20–$3.40 range to validate a full bullish reversal and a second leg of higher highs.
Bullish
The 60% price rally driven by record on-chain activity, supported by the EMA and RSI rebound, along with rising trading volume and strong candle formations, indicates robust short-term buying pressure. Sustained high on-chain transaction levels suggest improving network fundamentals, which could underpin long-term growth. A confirmed breakout above $3.20–$3.40 would validate a full bullish reversal, attracting further momentum and potentially leading XRP into its next growth phase.