XRP’s price maintains a firm stance above $2.20 as a $3 trillion surge in the cryptocurrency market, sparked by former President Trump’s calls for rate cuts and tariff adjustments, continues to bolster investor optimism. A key metric of XRP’s network activity, the fees burned on the XRP Ledger, has seen a notable 38% increase week-over-week, further signaling heightened usage and adoption of the network.
XRP Maintains Momentum Amid Bullish Market Sentiment
On April 26, XRP broke decisively above the $2.20 level, aligning with a broader market rally. This surge followed President Trump’s recent proposals for interest rate reductions and tariff revisions, which ignited a global “risk-on” wave, pushing the cryptocurrency market capitalization to a historic $3 trillion. XRP closely tracked Bitcoin’s rise, which reached a 60-day high of $95,000, reaching as high as $2.25 before slightly retracing to $2.19 at the time of writing.
Despite a minor market pullback, where the overall crypto market retraced by 2%, XRP showed remarkable resilience, with only a slight 0.3% decline. This suggests robust support at the $2.20 level, bolstered by impressive trading volumes approaching $2.5 billion over the last 24 hours.
Surge in XRP Ledger Activity Indicates Growing Network Adoption
In addition to the price action, XRP’s underlying network fundamentals show strong signs of growth. Data from XRPScan reveals that the fees burned on the XRP Ledger surged from 2,730 XRP on April 22 to 3,775 XRP by April 26—a 38% week-over-week increase. The rise in burned fees reflects heightened transaction activity, which is likely driven by both organic user growth and greater adoption of the XRP Ledger for application-layer use cases.
The increase in fee burns is also viewed as a deflationary mechanism, gradually reducing XRP’s circulating supply over time, further supporting its value proposition.
Ripple Insider: XRP Is the Key Liquidity Layer, Not Digital Gold
Favio Valerda, Head of Growth at Sologenic, a protocol for instant payments and asset tokenization built on the XRP Ledger, weighed in on the ongoing debate about XRP’s role in the digital asset space. Valerda dismissed the notion of XRP as “digital gold,” emphasizing instead that it is a vital liquidity layer that facilitates the transfer and composability of digital gold-like assets on blockchain rails.
“While Bitcoin and gold serve as stores of value, XRP’s strength lies in its transactional utility, powering over 1.5 million daily transactions with unmatched speed and efficiency,” Valerda explained. He further suggested that as crypto adoption expands, networks like the XRP Ledger, which offer scalable settlement layers, will benefit as much as store-of-value assets.
What’s Next for XRP?
As XRP maintains critical support above the $2.20 mark, the rising network activity and favorable macroeconomic conditions point toward the potential for further price gains. Technical indicators, such as tightening Keltner Channels and the Parabolic SAR flip, suggest a potential breakout, with a possible target of $2.35 if the $2.20 support holds firm. The Money Flow Index (MFI) of 57.12 indicates healthy market inflows without signaling overbought conditions, giving XRP room to rally sustainably.
However, should XRP fail to maintain support at $2.20, a retracement to $1.94 could be in store, where prior demand zones align with the lower Keltner Channel band.
In conclusion, XRP’s growing network activity, combined with strong market fundamentals and favorable macro trends, presents a promising outlook for the cryptocurrency in the coming weeks.
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