XRP rebounds on rising on-chain activity
- XRP extends gains above the reclaimed $1.10 pivotal level on Tuesday.
- The XRP Ledger protocol has attracted 24,000 active addresses, signaling growing investor interest.
- XRP eyes a bullish transition, but the 50-day EMA caps the immediate upside.
Ripple (XRP) ticks up and trades around $1.13 at the time of writing on Tuesday. This rebound aligns with a broader recovery in the cryptocurrency market, attributed to reports that mediators between the United States (US) and Iran are seeking a 10-day cessation of strikes to find a way back to the signed Memorandum of Understanding (MoU).
US-Iran strikes persist
The US military pressed on with a tenth straight day of strikes, with explosions reported in Sirik, Bandar Abbas, Qeshm Island, Chabahar, and Konarak. Iran responded by targeting US assets throughout the Gulf region.
Geopolitical tensions remain elevated as US President Donald Trump has warned Iran of repercussions following US service member casualties.
The Fear & Greed Index dipped to 25 on Tuesday, placing market sentiment firmly in Extreme Fear territory, down from 29 the day before.
If sentiment continues to weaken, the recovery may lose traction. Conversely, a rebound in sentiment could fuel a more constructive market outlook.
“Looking ahead, macro developments are likely to be the main catalysts for the market. The European Central Bank (ECB) and Federal Reserve (Fed) rate decisions, particularly the July 29 Federal Open Market Committee (FOMC) meeting, will be closely watched, while the escalating conflict between the US and Iran remains an additional source of uncertainty for broader risk sentiment,” researchers at K33 stated in Tuesday’s Ahead of the Curve report.
XRP attracts modest on-chain activity
Interest in XRP is growing mildly but broadly, as reflected in the Active Addresses metric. CoinGlass data shows that the number of wallets interacting with the XRP Ledger (XRPL) by sending or receiving assets has remained steady around 23,000 on Monday and Tuesday, up from 20,000 last Sunday. This growth suggests that user interest is returning, which may continue to boost demand and support recovery in the short to medium-term.
Price analysis: XRP bulls eye short-term breakout
XRP trades at $1.13, keeping a capped tone as price remains below the 50-day, 100-day and 200-day Moving Average Exponentials (EMAs), which align as overhead resistance at $1.15, $1.24 and $1.44 respectively.
The recovery off the recent lows near $1.00 is underpinned by constructive momentum, with the Relative Strength Index (RSI) hovering above the midline at 55 on the daily chart and the Moving Average Convergence Divergence (MACD) ticking higher in positive territory. However, these signals only hint at improving demand rather than a clear trend reversal while the pair is still trapped beneath the EMA stack.
On the topside, immediate resistance emerges at the 50-day EMA around $1.15, and a sustained break above this level would expose the next bullish objective at the 100-day EMA near $1.24, ahead of the more strategic barrier at the 200-day EMA around $1.44. On the downside, the latest close at $1.13 acts as a near-term pivot, while the former downtrend-line break level at $1.09 offers a more significant support area. A daily close back below this latter floor would likely revive selling pressure and re-open the path toward deeper retracement levels.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Ripple FAQs
Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.
XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.
XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.
XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
