Ripple (XRP) price has stabilized at the $2.40 mark over the last two days, with traders closely watching key on-chain indicators for signs of a breakout. Data from CryptoQuant shows that XRP network transactions have surged by 12% since the broader crypto market sell-off subsided on February 6. With this resurgence in on-chain activity, could XRP be on the verge of another upward leg? Ripple (XRP) Price Holds Above $2.40 as Bearish Headwinds Subside After enduring a volatile week, Ripple (XRP) price has found steady support at $2.40, signaling a potential bottom formation. The broader crypto markets faced sharp declines last week, largely due to heightened geopolitical tensions and macroeconomic uncertainties. A heated battle between DeepSeek and OpenAI triggered turbulence in U.S. tech stocks, with the bearish sentiment instantly spilling over to the cryptocurrency markets. Shortly after that, former U.S. President Donald Trump ’s announcement of new tariffs on Canada, Mexico, and China further exacerbated market fears. While tariffs on Canada and Mexico were postponed, the U.S. imposed proceeded with to impose taxes on Chinese imports, prompting immediate retaliatory actions from Beijing. This geopolitical uncertainty weighed on investor sentiment, with global markets seeing sharp corrections. XRP was no exception, as these macro pressures offset the otherwise bullish news of the U.S. Securities and Exchange Commission (SEC) dropping all remaining charges against Ripple. Ripple (XRP) Price Action However, since the market sell-off eased on Friday, February 6, Ripple price has begun showing early signs of a recovery phase. As seen in the chart above, XRP has consolidated just above the $2.40 level over the last three days. Historically, when an asset enters a period of consolidation following a steep decline, traders often interpret this as a bottoming-out signal. If this pattern holds, XRP could be poised for a renewed bullish push in the coming sessions. XRP Network Transactions Surge 12% as Market Sell-Off Pauses While macroeconomic uncertainties rattled investor confidence last week, on-chain activity suggests that XRP traders are preparing for a rebound. As global markets adjusted to the latest developments from the trade dispute between U.S and China, XRP holders have been positioning themselves for the next potential price surge. XRP Price vs. Daily Network Transactions | Source: CryptoQuant The CryptoQuant chart above illustrates how XRP ledger transactions have spiked following the recent price stabilization. On Friday, February 6, users executed approximately 1.7 million transactions on the XRP network. However, as prices found support at $2.40, transaction volume increased significantly. The latest data as of February 7 shows that XRP network transactions have reached 1.92 million—a 12% surge within just 48 hours. When a cryptocurrency network experiences such a notable uptick in user activity amid a consolidation phase, it often signals rising confidence among investors. The increase in transactions suggests that traders are capitalizing on stagnant XRP prices to strategically accumulate positions. Additionally, this trend highlights that the recent price drop was driven more by macroeconomic pressures rather than concerns over XRP ledger efficiency or internal network instability. XRP Price Forecast: Bulls Eye $2.60 as MACD Signals Potential Reversal With the bearish pressures from the U.S.-China trade war beginning to cool, XRP price may be gearing up for a fresh rally. The surge in on-chain activity indicates that market participants are returning with renewed confidence, supporting the argument for a bullish breakout. If XRP can sustain its current support level at $2.40 and continue to see rising network transactions, traders could begin targeting the next resistance level at $2.60. A decisive close above this threshold could open the door for a run toward $3.00, especially if broader crypto market conditions remain favorable. From a technical perspective, XRP price has stabilized near the $2.42 mark, finding support as volatility cools. The daily chart shows price action consolidating just above the VWAP at $2.42, suggesting a possible accumulation phase. The Keltner Channel indicates resistance at $2.68 and support at $2.18, forming a narrowing range that hints at an impending breakout. A bullish scenario could unfold if XRP reclaims the mid-Keltner range at $2.68, setting the stage for a retest of the $3.18 upper boundary. XRP Price Forecast Conversely, downside risks remain, with XRP struggling to break out of the lower Keltner band. The MACD indicator remains bearish but is showing early signs of a reversal as selling momentum fades. If bullish volume fails to pick up, XRP could dip towards $2.18 before finding stronger support. For now, XRP remains in a consolidation phase, with traders closely watching for a breakout above $2.50 to confirm bullish continuation. The post Ripple (XRP) Price Analysis: What Next for XRP after 12% Surge in Network Transactions appeared first on CoinGape .
