- XRP has gained 10.1% since August 1, reaching $3.05 with an on-chain surge.
- On-chain activity spike signals a price rally toward the $3.40 resistance level.
- Higher network utility supports the bullish trend.
Since August 1, XRP has recorded significant gains in price. The increased on-chain activity and technical support are pushing the token to the resistance area around $3.40.
XRP Price Breaks Out After On-Chain Spike
Since August 1, XRP has increased by 10.1% to a price of $3.05. The increase follows an on-chain surge that caused an increase in network activity to a 6-month high. The Santiment chart shows that the transaction volume of XRP reached 2.1 billion. Also, its circulation rose to 1.12 billion.
This significant increase in utility was the highest since early 2025. Historical trends indicate that the token’s price tends to increase once its network activity rises.
As seen in the chart posted by Santiment, the two surges in May and June are followed by price rallies. A rise in the number of transactions reflects an increase in network activity by users, exchanges, or institutions.
A huge increase in circulation also reflected that more XRP coins have been exchanged between digital wallets. The positive momentum in the token’s price has occurred after the rise in network activity on August 1. This development contrasts with the uncertainty and uneasiness in the wider crypto market.
Transaction Spike Indicates Momentum In XRP Price
Santiment also observed that bigger price gains in the crypto market are frequently preceded by on-chain activity. The current momentum of XRP is in line with the past performance after a period of steady utility growth.
The price increases, of up to 12%, were preceded by similar spikes in transaction activity in late May and early June. Thus, the recent action may mark only the beginning of the new rally.
Source: X
This Santiment information also indicates that active use of the XRP Ledger has increased remarkably. The organic activity suggests that the token’s price is not moving due to speculation but utility.
More price gains could be experienced if the high circulation and volume are maintained. The latest uptrend contributes to the exceptional performance of XRP during this quarter. It is also due to the increased interest in the token from investors and analysts.
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XRP Targets $3.40
At the moment, XRP is trading at $3.05 after hitting a peak at $3.0675 earlier in the day. According to TradingView chart, the current trading activity is in the form of a consolidation at major Fibonacci points. This comes after an intense rally in early July.
Above the $2.72 support, buyers took positions more than once. This has resulted in a rebound that enables it to test the 0.236 Fib. level at $3.01. The 4-hour chart indicates volume of 10.55 million, which is proof of trader interest.
The price is close to the session’s Volume-Weighted Average Price (VWAP), which is currently at $3.0367. This VWAP is in close conjunction with the 0.382 Fibonacci retracement at the price of $2.96.
Source: TradingView
This zone is where bullish traders may step in heavily, using it as a base to push prices higher. Having drawn the Fibonacci targets, the price range between $3.20 and $3.40 might be a short-term resistance.
Still, higher prices could lead to selling pressure around the $3.60 mark. Nevertheless, high volume and on-chain activity can help the price uptrend to continue.
If XRP does not maintain a price above $3.00, the next support level can be found again below $2.87. This is equal to the price at 0.618. It may open probabilities to drop to the previous low at $2.72.
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