Major cryptocurrency XRP is surging in transaction volume even as its price index hovers around the $1.3 support level, according to a post by popular analyst Ali Charts on X, who cited data
Major cryptocurrency XRP is surging in transaction volume even as its price index hovers around the $1.3 support level, according to a post by popular analyst Ali Charts on X, who cited data from Santiment. The analyst said total value transacted on the XRP ledger reached just shy of $50 billion on October 18, 2026, a major move given the ongoing long-term bearish setup.
Ali tweeted:
Image Source: X
The sudden spike in on-chain value transfer left analysts puzzled, as it had hovered around the $1 billion valuation on October 16 and 17, prompting debate over the sharp uptick that propelled it several dozen times higher.
Interestingly, the sudden increase in transaction volume wasn’t accompanied by a price increase, but by a price decrease, as XRP dipped slightly to $1.25. Analysts have touted this level as a major support baseline, and the market’s next move will be crucial: a downward move supported by high transaction volume could signal major capitulation for the digital asset, while a rebound could mean a substantial price recovery.
In trading circles, a sudden price increase followed by heavy trading volume is often seen as a strong sign of an impending price squeeze. However, XRP has since rebounded to the $1.3 valuation, suggesting significant seller exhaustion in the market.
Ali believes that as long as the $1.25 price support level holds, the digital currency has a path towards the next resistance level at $2, which would represent a price increase of around 60% from current levels.
The sudden spike in transaction volume suggests the cryptocurrency may experience significant price volatility in the near future. Although Ali’s analysis suggests the path toward $2 is being paved right now, traders should exercise caution. On-chain volume measures the value of coins moved, not necessarily the number of buyers or sellers. It could go either way.
The sudden on-chain increase could also be a large player moving funds around, not organic activity that would help the broader XRP ecosystem. The $1.25 support level hasn’t been breached this time around, but it could be soon and open the door to a fall to $1 or even lower.
