XRP's recent on-chain payment transaction volume has surged, recording approximately 400 million transactions on May 27th. On the XRP/USDT chart, despite this sharp increase in network activity, it shows limited price movements between $2.20 and $2.50.
There were several transaction volume spikes during May, with the 27th reaching the peak. These large-scale transactions are primarily analyzed as being associated with institutional investors' asset reallocation or internal movements between exchanges.
Technical analysis indicates thatRP is forming a symmetric triangle pattern and receiving support near the 50-day and 100-day moving averages. A small golden cross has, but has not yet led to price increase. There is potential to break through the resistance level in the $2.60-$2.70 range in the future.
However, high network utilization in on on-chain data does not guarantee continuous price increases. With trading volume maintaining low investors to wait perspective.
For the Xto at $20and gain momentum $2.50.
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