- XRP recorded 4M+ transactions in 3 days as whales reposition, breaking $2.20 resistance to peak at $2.47 before consolidating.
- On-chain data shows 1.3M daily XRP payments, sustaining above 1M, with price holding 50-day SMA at $2.17 for bullish bias.
XRP has recorded over 4 million transactions in three days, signaling heightened activity among large investors. The surge follows a price breakout above $2.20, a resistance level that previously capped gains.
XRP reached $2.47 on May 10 before retracing to $2.30, aligning with typical post-breakout corrections. ETHNews analysts now assess whether this consolidation precedes another upward move or a broader pullback.
On-chain data shows transaction volume spiked to 1.3 million daily payments on May 8, sustaining above 1 million thereafter. This level of activity, rare for XRP, suggests large investors are repositioning holdings.
The XRP Ledger processed 4 million account-to-account transfers during this period, a pattern often linked to accumulation phases.
Concurrently, XRP broke out of a multi-month descending triangle, surpassing $2.20. The asset now trades above its 50-day simple moving average (SMA) at $2.17, a metric watched for trend validation. Maintaining this level could reinforce bullish sentiment, while a drop below might invite bearish pressure.
XRP’s weekly gain of 8% contrasts with a 1.9% dip over 24 hours, reflecting profit-taking after recent highs. Bitcoin’s climb past $104,000 contributed to broader market optimism, though XRP’s trajectory remains distinct.
ETHNews analysts identify $2.50 as the next resistance. A decisive break above this level could propel XRP toward $3.00, assuming transaction volumes and whale activity persist. Conversely, failure to hold $2.20 might trigger consolidation between $2.00 and $2.30.
The 50-day and 200-day SMAs serve as benchmarks for sustained momentum. Holding above these averages would signal strength, while prolonged consolidation could test investor patience. XRP’s recent network activity offers a tangible basis for optimism, but price action must confirm the bullish thesis.
XRP is currently trading at $2.347, reflecting a -5.02% daily pullback, despite a strong recent uptrend. Over the last week, XRP remains up +7.51%, and it has posted a +19.70% gain over the past month.
On a six-month basis, XRP is still outperforming the broader crypto market with a +278.08% increase, and over the past year, it’s up a stunning +368.40%, driven by institutional interest, ETF momentum, and growing adoption across global payment infrastructures.
From a technical perspective, XRP is consolidating just below the $2.40 resistance zone, a critical level that has rejected price action multiple times in recent weeks. A clean breakout above this area would likely trigger a surge toward the $2.77–$3.00 range, while support remains firm at $2.15–$2.20.
The current dip could represent profit-taking or a short-term correction before continuation. XRP is currently trading in a stable range, suggesting neutral momentum for now, with both bulls and bears awaiting direction.
The fundamentals remain strong: XRP is one of the few large-cap tokens integrated into institutional pipelines for cross-border settlement. The outcome of its legal battle with the SEC—still unfolding—continues to be a major macro driver, alongside potential approval of spot XRP ETFs, which could unlock billions in capital flow.
Additionally, market data shows a 24-hour trading volume of $4.57 billion and a market cap of $137.65 billion, highlighting robust liquidity.
