Ripple: XRP Rockets to Transactions High in Euphoric Price Surge
XRP experienced one of its most aggressive short-term rallies, driven by both technical momentum and a notable rise in on-chain activity.
Quick overview
- XRP has seen a significant short-term rally, nearly doubling in value from below $2.40 to over $3.60 in less than three weeks.
- The asset's recent surge is supported by a rise in on-chain activity and a record payment volume of over $1.1 billion on July 18.
- Despite the potential for a short-term cooldown due to overbought conditions, increased transaction volume indicates sustained investor interest.
- Ripple's CEO, Brad Garlinghouse, attended a historic event at the White House, celebrating the signing of the Genius Act, which aims to provide clearer regulations for the cryptocurrency market.
Live XRP/USD Chart
XRP experienced one of its most aggressive short-term rallies, driven by both technical momentum and a notable rise in on-chain activity.
According to recent payment volume data, XRP transferred over $1.1 billion in accounts on July 18, the highest in over a month. This suggests investor confidence has returned, and the ecosystem is undergoing significant change.
XRP is undergoing a price surge. In less than three weeks, the asset has nearly doubled in value, climbing from below $2.40 in early July to over $3.60. It broke through key resistance levels, including $2.39, $2.68, and most recently $2.80, establishing support zones.
A possible short-term cooldown might happen since the RSI is above 80 and nearing overbought levels. However, the recent increase in transaction volume suggests this might be more than just a speculative pause.
Meanwhile, Brad Garlinghouse shared photos of the Ripple team at the White House, where they watched US President Donald Trump sign the recently approved Genius Act. Ripple’s CEO highlighted that today was a historic day for the cryptocurrency industry because the Act “marks a shift from the US” and introduces transparent and friendly regulation for the $250 billion stablecoin market, reflecting the traditionally cautious approach to cryptocurrency..
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