After weeks of decline, recent on-chain data indicates a spike in network activity and possible reversal momentum, suggesting that XRP may be poised for a significant change in market direction.

On Oct. 17, the XRP payment volume surged by more than 100%, surpassing 1.33 billion XRP, marking one of the highest readings this month. This increase in liquidity circulation is a noteworthy metric supporting growing optimism. Such sharp rises in transaction volume typically precede significant market recoveries for XRP, indicating expanding liquidity and rekindled interest among network users.

At the same time as this surge, XRP’s price stabilized around $2.45. The strength of the on-chain recovery suggests that selling pressure may be abating, even though the token remains well below its major moving averages.

From a technical perspective, XRP appears close to oversold conditions. A flattening Relative Strength Index (RSI) near 35-37, combined with declining bearish volume, supports the possibility of a bottom forming near the $2.30-$2.40 range in XRP’s chart structure. The noticeable narrowing of price candles indicates that the downtrend may pause as accumulation begins.

A momentum reversal toward $3.00 could be on the horizon if buyers manage to push XRP back above the $2.65-$2.70 resistance level, particularly as short positions start to unwind. Additionally, the increase in on-chain payment volumes suggests heightened activity from cross-border or institutional players, who typically become more active during market cycle transitions.

Despite XRP’s recent decline, these indicators support the idea that the token’s downward move may not be over yet, signaling potential for recovery ahead.
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