- XRP Ledger processed 2.34 million transactions, exceeding its 30-day average.
- XRP gained 8% while whales reportedly accumulated 1.54 billion tokens.
- Bulls require a $1.65 reclaim before the breakout gains confirmation.
XRP price climbed about 8% to $1.43 as a broader crypto recovery restored risk appetite. XRP Ledger activity accelerated beside the rebound, with XRPScan reporting 2,344,225 transactions during the previous day. That marked an 8.9% daily increase and exceeded the network’s 30-day average of roughly two million. The data suggests stronger usage, although it does not identify each transaction’s purpose.
XRP Price Rebound Coincides With 2.34 Million Transactions
The network processed 2,117,620 transactions on September 16, showing activity was improving before the latest surge. Higher throughput can reflect payments, exchange transfers, or automated operations. Therefore, transaction growth alone cannot prove speculative trading drove the increase.
Activity above the monthly norm shows heavier ledger use, not lasting adoption. A high-volume session may reflect exchange transfers or payment batching. Sustained growth across several weeks would offer a stronger signal.
CoinMarketCap placed the XRP price near $1.43, with 24-hour volume around $4.76 billion. The rebound followed losses linked to the failed Senate CLARITY Act vote. Improving sentiment likely supported trading and network activity, but the relationship remains correlational.
Ali Martinez said large holders accumulated about 1.54 billion XRP across 96 hours, valued near $2.2 billion. Such activity may reduce liquid supply if the tokens remain outside exchanges. Wallet movements cannot reveal every holder’s intention or confirm future demand.
XRP Price Faces EMA Tests Before Bulls Confirm a Breakout
EGRAG Crypto said the monthly 21 EMA remains unreclaimed, while the 50 EMA still supports the broader structure. A monthly close above the 21 EMA would improve the bullish setup. A wedge breakout and a $1.63-$1.65 reclaim would provide further confirmation.
Confirmed closes below the 50 EMA would instead raise the chance of another 100 EMA test. That scenario would weaken the token’s recovery. The analyst stressed that technical levels measure probabilities rather than guarantee outcomes.
Crypto Patel identified $1.70 as major resistance and $1.00 as longer-term support. Holding above $1.70 could strengthen an expansion, while failure may keep XRP rangebound. Near-term XRP price direction still depends on sustained volume, ledger demand, and confirmation above $1.65.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
