XRP News Today: XRP Surges 60% as On-Chain Activity and Technical Signals Hint at Market Turnaround

XRP has demonstrated notable signs of a potential market turnaround following a strong 60% price recovery from recent lows, supported by a surge in on-chain activity and robust technical indicators [1]. On August 2, the XRP network processed a record 1.35 billion XRP in transactions, signaling a marked increase in network utility and demand beyond typical whale or exchange-driven movements [1]. This development highlights a shift in market dynamics and suggests growing confidence in the token's utility and value proposition.

From a technical perspective, XRP has found support near key levels, particularly the 26-day Exponential Moving Average (EMA), which has helped stabilize the upward trend. The Relative Strength Index (RSI) has also shown signs of a market reset, bouncing off the midline after a previous parabolic rally, indicating a healthier trading environment [1]. Volume analysis reveals a classic accumulation pattern, with green candles and rising volume reinforcing the idea that buying pressure is increasing among market participants. These factors together form a multidimensional foundation for XRP’s current recovery phase.

For a confirmed bullish breakout, XRP must reclaim and sustain the $3.20–$3.40 price range. Sustained volume at elevated levels and continued on-chain transaction growth are essential for validating this momentum [1]. Analysts from COINOTAG suggest that if these conditions persist, XRP could be on the brink of a new growth phase [1]. However, the path forward is not without risks. If the token fails to maintain its current momentum or breaks below critical support levels, it could face renewed downward pressure.

In the broader context, XRP's performance is influenced by overall crypto market sentiment, which has been mixed. While Bitcoin and other major cryptocurrencies have shown varied responses, XRP's specific indicators remain favorable. Institutional and high-net-worth investors have shown increasing interest, with whale activity suggesting strategic accumulation rather than panic selling [2]. This shift in investor behavior could signal a longer-term reversal in sentiment, especially if XRP continues to attract on-chain activity and institutional support.

The recent price action and volume surge reinforce the idea that XRP is transitioning from a bearish phase to a potentially bullish one. However, traders and analysts should closely monitor key price levels and volume trends to confirm the sustainability of this recovery. The combination of on-chain data and technical analysis provides a comprehensive view of XRP’s current state, offering both caution and optimism in equal measure [1].

Source: [1] XRP Shows Signs of Potential Turnaround Amid Rising On-Chain Activity and Price Recovery (https://en.coinotag.com/xrp-shows-signs-of-potential-turnaround-amid-rising-on-chain-activity-and-price-recovery/)

[2] AInvest, XRP News Today: Ripple's XRP Falls 8% as Whale Selling Drives Volatility (https://www.ainvest.com/news/xrp-news-today-ripple-xrp-falls-8-whale-selling-drives-volatility-2508/)