XRP has risen 5% in the last 24 hours, the first noticeable improvement after a series of declines. This move was accompanied by positive dynamics in the broader crypto market, but there are signs that XRP is developing its own local momentum, supported by a number of on-chain indicators.
One of the key signals was a change in the ratio of purchases and sales in the XRP futures market. According to CryptoQuant, for the first time since July 10, this indicator was above one, indicating the dominance of bullish positions. Such a turn in sentiment may indicate a weakening of pressure from sellers and an increase in interest from buyers. If this trend continues, it can support further growth.
In addition to futures activity, a decrease in the liveliness indicator, which tracks the movements of "sleeping" coins, also indicates a recovery. Since the beginning of August, the metric has been demonstrating a steady decline, reaching the level of 0.8150 according to Glassnode. This may indicate that long-term investors again prefer to hold the asset rather than take profits. Such behavior usually accompanies accumulation phases, which also plays in favor of price growth.
However, despite the positive signals, technical resistance levels remain critical. If the current momentum is maintained, XRP may test the $3.22 zone. In case of a successful breakout, the path to $3.33 will be open. However, an unsuccessful attempt may result in a rollback to $2.87, where the price again risks coming under pressure from sellers.
Thus, the observed growth of XRP may be both the beginning of the recovery phase and a short-term jump against the background of speculative interest. Much will depend on the continued interest of investors and further changes in on-chain metrics.
For investors, this may be a signal to closely monitor the behavior of large holders and the dynamics of the derivatives market. The final reversal of the trend has not yet been confirmed, but the preconditions for it are gradually forming.