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**1.6 Million XRP in 24 Hours: $2.5 Possible?**
In a stunning display of renewed interest, the Ripple network has experienced an unprecedented surge in on-chain transactions. Within a mere 24 hours, a staggering 1.6 million XRP transactions have taken place, marking a significant increase from June’s sluggish volume. This sudden spike in activity has sparked hopes that a potential breakout may be imminent.
As the price of XRP currently consolidates near $2.10, this surge in on-chain metrics could signal a change in sentiment among traders and investors. Although some market observers remain cautious due to recent volatility, others are optimistic regarding the prospects of an upward movement towards $2.50.
Historically, XRP has required both increased volume and network activity to propel its price above significant psychological barriers. The current situation seems to align with this historical pattern. On-chain metrics continue to improve, as evidenced by the surge in transactions. If buyers can maintain their conviction and drive up volume, the cryptocurrency could potentially revisit its previous highs.
In conclusion, while there is no concrete proof of a long-lasting breakout at present, the recent events provide an intriguing narrative for XRP enthusiasts. Any attempt to push above $2.25-$2.30 resistance would be crucial for the cryptocurrency’s further growth and potential upward momentum towards $2.50.
Source: u.today
