On-chain and in the market, XRP It shows encouraging trends that could indicate a change in sentiment. Bullish momentum is evident from the price's recent breakout of downtrend line resistance. With crucial support forming at $2.34, XRP price is currently up more than 2% in the last day to around $2.59. As long as bullish sentiment continues, there could be a potential rally towards $3 or higher It is happening.

The scales on the string show some interesting patterns. Daily new account creation is approaching levels last observed during the peak of the XRP bull market above $3, and the number of newly active accounts is increasing. This indicates that institutional and retail investors are showing renewed interest in the asset. In addition, due to increased network activity and transaction demand, the average number of transactions per ledger is steadily rising.

With an average of 120 to 150 transactions per ledger, the network is currently showing a healthy level of usage, which is essential for price stability and long-term viability. But things are not completely clear yet. The psychological level of resistance at $3 remains a major hurdle.

A decline towards $2.34 or even $2.16 may occur if... XRP Cant break this. The Relative Strength Indicators (RSI) on the price chart are indicating a slight overbought condition, advising traders to be cautious when trying to enter new positions at these levels. XRP is in a strong position at the moment thanks to bullish price action and improving on-chain activity. There is justification for additional growth given renewed demand for networking and positive sentiment.

To properly manage their forecasts and strategies, traders should closely monitor important levels such as $3 (resistance) and $2.34 (support). XRP The price could return to its peak at $3 if momentum continues, but any pause could lead to short-term consolidation.

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