XRP News Today: XRP Network Activity Surges 300% as Bullish Predictions Mount

Ripple's XRP has experienced a significant surge in network activity, with the number of daily active addresses crossing the 100,000 mark for the first time since late March. This increase, from 35,200 to 109,540, represents a more than threefold rise in user engagement and activity on the XRP network. This heightened usage has sparked bullish predictions for the cryptocurrency, which is currently the fourth-largest based on market capitalization.

Market analyst Tektonic observed that XRP has broken above its descending trendline resistance after multiple rejections, indicating a shift in momentum. This breakout is aligned with a bounce off a key Fib-based daily support zone, which remained firm during the pullback. Tektonic suggested that if XRP can consolidate robustly above $2.30 with sustainable volume, it could surge between $2.50 and $2.65.

Renowned crypto analyst Dark Defender shared a similar sentiment, stating that if XRP breaches the key resistance at $2.40 and the relative strength index (RSI) flips bullish, the cryptocurrency could potentially reach $5.85. This prediction is based on the current market conditions and the potential for a bullish breakout.

The excitement surrounding an XRP exchange-traded fund (ETF) continues to build, with an 87% chance of approval recorded on Polymarket. A spot XRP ETF could attract billions in assets, enhance real-world credibility, and bring professional management to the market. This development could further boost institutional investments in XRP, providing a more accessible and regulated entry point for institutional investors.

At the time of writing, XRP had surged 3.4% in the past week to hit $2.31 after breaching a descending trendline. This price movement indicates a positive trend for the cryptocurrency, with analysts and investors closely monitoring its performance. The potential for a bullish breakout, coupled with the growing interest in an XRP ETF, suggests that XRP could see significant gains in the near future. However, it is crucial to remember that the cryptocurrency market is highly volatile, and these predictions are subject to change based on market conditions.