Testing Critical Resistance 🚨: XRP is actively challenging a pivotal resistance zone around $1.54 following a prolonged consolidation phase between $1.30 and $1.45. Trading volumes have surged to a range of $2.3B - $4.3B, indicating a heavy concentration of capital at key breakout levels.
On-Chain Activity Spikes 📈: Active addresses on the XRP Ledger (XRPL) jumped to 48,453, marking the highest network engagement since late March. Simultaneously, new wallet creation hit 3,317, highlighting a sharp increase in retail market participation.
Overhead Supply Lingers ⚠️: Despite improved buying momentum and a bullish structure defending higher lows above $1.40, XRP has faced repeated rejections near $1.54, confirming that substantial selling pressure remains unabsorbed.
Current on-chain metrics suggest that short-term speculative trading is driving the latest network expansion. While whales and long-term holders remain steady due to institutional catalysts like steady ETF inflows and real-world tokenization pilots, XRP still requires a decisive daily close above $1.54 to confidently open the door toward the $1.70 target.
