XRP Network Usage Surges 600%… Long-term Growth Potential Increases

XRP's on-chain activity has surged exceptionally, reviving network demand, but the price is unable to maintain an upward trend due to a major resistance line.

According to the cryptocurrency specialist media U.Today, in the past four days, XRP's settlement volume and transaction count have increased sharply. The settlement volume processed on April 23 alone surpassed approximately 838 million XRP, and the transaction number exceeded 11.7 million, each increasing by more than 600%. According to Ripple's blockchain data, it is interpreted that actual payment utilization has increased significantly beyond short-term interest.

Technically, XRP rebounded as it broke above the 50-day and 100-day moving averages, but the rise has currently stopped near $2.18. That price level overlaps with the upper trend line of the descending channel, and it is analyzed that there is strong selling pressure. XRP once approached $2.29 but reversed downward due to resistance, falling to $2.14, down approximately 5.45% in the past 24 hours.

In contrast, the stablecoin RLUSD launched by Ripple is increasing its presence in the market with a surge in trading volume. According to CoinMarketCap, the recent trading volume of RLUSD, which was launched less than five months ago, has exceeded $113.28 million. This is interpreted as a signal that some investors are using RLUSD as a means to temporarily store or reallocate assets amid an unstable market environment.

Experts suggest two possibilities for the future trend of XRP. First, if it breaks above the $2.18 resistance line again, the short-term target could open up to $2.40~$2.50. On the other hand, if it fails to surpass that level and on-chain indicators slow down, the price may adjust below $2.00.

U.Today analyzed that whether this on-chain surge is simply a supply-demand change or a sign of a recovery in the Ripple Network itself will be a key variable for future price direction. It is also evaluated that the accompanying rise in real-use indicators, which is difficult to explain with technical factors alone, is a remarkable point.