Rising XRP On-Chain Metrics and Wallet Growth Signal Rally
XRP has seen a notable increase in on-chain activity, with transactions per ledger stabilizing near 90 and daily wallet creations exceeding 7,000 in August. These trends suggest growing network utility beyond speculative trading. Technically, XRP trades within a symmetrical triangle, holding above its 200-day moving average (~$2.50) with resistance near $3.10. A breakout above the triangle, supported by rising on-chain activity and wallet growth, could trigger a sustained rally. Traders should monitor key metrics such as transactions per ledger, daily wallet creations, active accounts, token flow, and the 200-day MA. The combination of improved fundamentals and a constructive technical pattern reduces downside risk and boosts the probability of a bullish move.
Bullish
Rising on-chain activity and wallet creation have historically supported XRP price stability and upward trends. The current symmetrical triangle pattern, combined with holding above the 200-day MA, suggests a bullish breakout potential. Past episodes where XRP saw on-chain growth have preceded sustained rallies, reducing downside volatility. If the price breaks above the $3.10 resistance, it may trigger further buying. In the short term, traders may react positively to improved fundamentals and a technical breakout, while long-term outlook benefits from increased network utility. Therefore, the expected market impact is bullish.