XRP Breakout Gains Momentum as On-Chain Activity Surges 200%

XRP is showing strong bullish signals as it breaks out of a long-standing resistance pattern, supported by a surge in both technical indicators and on-chain activity. On May 7, over 824 million XRP was transferred between accounts—more than 200% above the monthly average—indicating potential institutional accumulation or whale movements. Historically, such spikes precede aggressive price action, lending credibility to bullish forecasts.

On the technical side, XRP has decisively broken above a descending triangle on the daily chart, a formation that had capped gains since Q1. The token is now trading above key exponential moving averages (21, 50, and 100 EMAs), further strengthening the breakout. Momentum indicators also point to continued upside potential. The Relative Strength Index (RSI) has climbed to 63, suggesting bullish momentum without entering overbought territory.

Market analysts suggest that XRP could target the psychological $3 level if it holds above the breakout zone, especially with rising trading volume providing confirmation. A short-term resistance may emerge near the $2.80–$3.00 range, but continued buying pressure and increasing utility could support further gains.

The spike in payment volume hints at growing real-world usage or strategic accumulation by large holders, both of which support the bullish narrative. Even if a pullback occurs, a retest around the $2.20 level would not invalidate the setup but rather offer a healthy consolidation phase before the next leg up.

XRP’s alignment of technical breakout, rising on-chain activity, and bullish sentiment positions it for a potential breakout rally. If current conditions persist, the token may be preparing for a significant upward move in the near term.