The XRP Ledger processed more than 2.5 million transactions within 24 hours, marking a notable surge in network activity as market performance remains subdued.
The increase in on-chain transactions suggests rising usage of the XRP ecosystem, which historically has been linked to improving sentiment and renewed investor attention.
Despite the activity surge, XRP is trading near $1.41 after falling sharply from previous cycle highs above $3.
Price action shows XRP forming a gradually rising support line, indicating that buyers are stepping in to defend higher lows after months of downward pressure.
One key technical level being closely watched is the 26-day exponential moving average, which XRP has attempted to break several times but has yet to overcome decisively.
Earlier attempts to move above this level resulted in brief rallies followed by quick reversals, reinforcing the moving average as a short-term resistance barrier.
However, the latest price structure shows XRP consolidating tightly below the resistance level rather than experiencing an immediate rejection.
Analysts note that rising transaction activity on the XRP Ledger combined with price stability could signal strengthening underlying fundamentals if the asset eventually breaks above resistance.
At the time of reporting, XRP price was $1.45.