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XRP Ledger showed a notable increase in network fees, hitting almost 4,000 XRP on April 24 — the highest level in the previous 10 days. Although a spike like this frequently indicates high network usage and increasing demand, it may not accurately represent the current state of the market. XRP is currently consolidating close to the crucial $2.20 level in terms of price performance.
The 100-day exponential moving average (EMA), a historically significant resistance line, is located in this region. The way to the upper bound of the descending price channel, which is around $2.50, may become accessible if this barrier is broken. The current rejection at this level, though, suggests that bulls might still require more momentum in order to guarantee a complete breakout.
Additional information is provided by on-chain metrics. In addition to the burn spike, XRP has had a monthlong run of comparatively high transaction counts hovering around two million per day. This steady activity shows that the network is being used effectively, which may result in long-term demand for the asset - particularly if burn rates keep increasing and supply becomes more limited.
However, the chart structure of XRP indicates caution despite this encouraging activity. The asset's trend since late 2024 has been characterized by a wider descending channel, from which it has not yet completely broken. The current structure continues to show buyers' hesitancy. The volume has also not increased dramatically, suggesting that there is not much conviction behind the recent upward trend.
In order to sustain bullish momentum, XRP needs to solidly break above $2.20 and hold there before attempting to break through the resistance zone between $2.40 and $2.50. A longer-term uptrend may begin if these levels successfully flip into support. The rising burn rate and consistent transaction volume of XRP indicate positive network activity, but for a real breakout to occur, the price action must coincide with these indicators. Until then, XRP continues to be trapped between technical resistance and solid fundamentals.