XRP Ledger payment volume briefly surged past 550 million XRP as the token jumped almost 10% in a single session, pushing price to the edge of major resistance at $1.15. The move revives XRP's breakout case, but traders now watch whether the token can close above that level and convert the volatility into sustained gains.
XRP jumps as network activity spikes
XRP jumped almost 10% during the latest daily session, moving from roughly $1.05 to $1.15. Trading volume expanded sharply alongside the move, a shift from the subdued conditions seen throughout much of August.
The rally coincided with a sharp rise in on-chain activity. XRPL payment volume, which measures XRP transferred between accounts, surged beyond 550 million XRP before retreating toward approximately 201 million XRP. The spike ranks among the largest daily increases recorded over the past month.
However, payment volume does not directly represent buying pressure. XRP can move between accounts for reasons including exchange transfers, institutional settlement, and wallet restructuring, so the surge should not automatically be read as hundreds of millions of XRP being purchased.
Price nears key resistance
XRP produced one of its strongest price candles in weeks and approached the resistance represented by the orange moving average around $1.15. The token also reclaimed shorter-term averages near $1.05 and $1.08.
RSI jumped to approximately 68, putting momentum close to overbought territory without decisively crossing the conventional 70 level.
What comes next
A daily close above $1.15 could open the route toward the next major long-term resistance around $1.34. Failure to hold the breakout would leave $1.08 and $1.05 as the first meaningful support areas.
The payment-volume spike therefore reinforces evidence of sharply increased network activity, but it does not independently guarantee continuation. Price has generated meaningful momentum; XRP now needs to convert that volatility into sustained trading above $1.15 to change its broader bearish structure.
Source: U.Today
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