XRP Ledger daily trading volume soars to 2.7 million transactions, RWA enthusiasm heats up, but XRP price remains trapped in the $1.34—$1.44 range

March 11 News: Although XRP’s price has recently lacked clear upward momentum, its underlying network, XRP Ledger, has seen a significant increase in transaction activity. Latest market data shows that the network’s daily transaction volume has risen to approximately 2.7 million transactions, reflecting a continuous rise in on-chain usage, especially driven by real-world asset (RWA) tokenization projects, which have notably boosted ecosystem activity.

In terms of price performance, XRP has mostly been range-bound over the past week, with major fluctuations between $1.34 and $1.44. During the latest trading day, XRP’s price briefly approached $1.44 amid a surge in trading volume but quickly retreated, currently hovering around $1.38. Market data indicates that the $1.43 to $1.44 range has formed a clear short-term resistance.

On-chain fundamentals show that as more tokenized asset projects deploy on XRP Ledger, the network’s total value continues to grow. Data indicates that the total value of tokenized assets on the chain is now close to $461 million, which has also driven a noticeable increase in transaction counts. However, with overall crypto market liquidity still limited, the new network activity has not yet translated into a significant price push.

Technical analysis reveals that after failing to break through resistance, XRP’s price has gradually formed a series of lower highs, while trading volume continues to decline, indicating a weakening of short-term upward momentum. The $1.38 level has been tested multiple times and is generally regarded as a short-term support zone.

Analysts point out that the current market is in a typical range-bound consolidation phase. Prices are constrained by resistance near $1.44 and support between $1.34 and $1.38. This narrowing structure often suggests the potential for a more pronounced directional move in the future.

Traders are currently focusing on the support stability in the $1.34–$1.35 range. If this area holds, XRP may continue to oscillate and attempt to break through $1.44 again. Once trading volume recovers, there is a possibility of extending gains above $1.50. However, if the price falls below $1.34, the current consolidation will be broken, and the price could further test the $1.30–$1.32 zone. (CoinDesk)