The price of Ripple (XRP) has stabilized at a mark of $ 2.40 over the past two days, as traders closely monitor the key indicators on the chain to get signs of collapse. Data from Cryptoquant shows that XRP transactions have increased by 12 % since the sales of the wider encryption market subsided on February 6. With this recovery in the activity on the chain, can XRP be on the verge of the other upward leg?
The price of Ripple (XRP) exceeds $ 2.40, as the declining winds subsided
After a volatile week, Ripple (XRP) found fixed support at $ 2.40, indicating a possible composition. The broader encryption markets faced sharp declines last week, due significantly to the increasing geopolitical tensions and macroeconomic doubts.
A hot battle between Deepseeek and Openai raised the disturbances in US technology stocks, with spills immediately descending to encrypted currency markets. Shortly later, former US President Donald Trump’s announcement of the new customs tariff for Canada, Mexico and China has exacerbated the market concerns.
While the customs tariff was postponed on Canada and Mexico, the United States began imposing taxes on Chinese imports, which sparked immediate retaliatory measures from Beijing.
This geopolitical uncertainty weighs the feelings of investors, as global markets see sharp corrections. XRP was not an exception, as the pressures of the macro compensate for this upscale news otherwise on the US Securities and Exchange Committee (SEC) that lacks all the remaining charges against Ripple.
However, since the sale of the market on Friday, February 6, Ripple Price began to show early signs of the recovery stage. As shown in the graph above, XRP has been unified slightly higher than the level of $ 2.40 during the past three days.
Historically, when one of the original enters a period of monotheism after a sharp decrease, this traders often explain as a bottom signal. If this style continues, XRP can be ready to pay a renewed rise in the upcoming sessions.
XRP transactions rise by 12 % with a market sale
While the total economic uncertainty rocked the investor’s confidence last week, the activity on the series indicates that XRP traders are preparing for apostasy. With the amendment of global markets with the latest developments in the trade conflict between the United States and China, XRP holders put themselves in increasing the following potential prices.
the Cryptoquant The graph above shows how Ledger XRP transactions have risen after installing the last prices. On Friday, February 6, users implemented nearly 1.7 million transactions on the XRP network.
However, prices found support at $ 2.40, the volume of transactions increased significantly. The latest data appears from February 7 that XRP transactions amounted to 1.92 million – an increase of 12 % in just 48 hours.
When a cryptocurrency network faces such a noticeable height in the user activity in the standardization stage, it often indicates a high confidence between investors.
The increase in transactions indicates that merchants benefit from stagnant XRP prices for the accumulation of strategic positions. In addition, this trend highlights that the recent decrease in prices was more driven through macroeconomic pressure instead of concerns about the efficiency of the Professor XRP book or the instability of the internal network.
XRP price expectations: Bulls Eye $ 2.60, where MACD indicates a possible reflection
With the start of the declining pressure from the trade war between the United States of China in cooling, the price of XRP may be preparing for a new crowd. The increase in the activity on the series indicates that the market participants return with renewed confidence and support the argument of the bullish penetration.
If XRP can maintain the current support level at $ 2.40 and continue to see emerging network transactions, traders can start targeting the next resistance level at $ 2.60. The decisive closure can open over this threshold, the door for running about $ 3.00, especially if the conditions of the broader encryption market remains favorable.
From a technical perspective, the price of XRP stabilized near the $ 2.42 sign, where support was found as a cold of fluctuations. The daily chart shows uniform price procedures above VWAP at $ 2.42, indicating a potential accumulation stage.
Keltner indicates resistance at $ 2.68 and supported by $ 2.18, which is a narrowing range that hints to an imminent outbreak. The bullish scenario can reveal if XRP recovers the medium range at $ 2.68, paving the way for the re -testing of the upper border $ 3.18.
On the contrary, the risk of the negative side remains, with XRP struggle to get out of the lower Keltner. The MACD index remains downtous but it shows early signs of reflection as the momentum is faded. If the bullish volume fails to pick up, XRP can decrease about $ 2.18 before finding stronger support.
Currently, XRP remains in a standardization stage, where traders closely watched for me above $ 2.50 to confirm the upcoming continuation.
Related questions (common questions)
XRP transactions increased by 12 %, as traders benefited from price stability at $ 2.40, indicating renewable confidence amid the pressure of the macroeconomic economy.
If XRP maintains support at 2.40 dollars and the transaction volumes continue to rise, it will be possible to collapse over $ 2.60, which leads to move about $ 3.00.
The increasing commercial tensions caused fluctuations in the market, which led to a decline in XRP prices. However, with geopolitical uncertainty, XRP shows signs of recovery.
Ibrahim
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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