XRP adds 4,300 new wallets in 24 hours, but why is price stuck?

💡 DMK Insight

XRP’s recent surge in wallet creation signals growing interest, but resistance at $1.35 is a key hurdle. The creation of 4,300 new wallets in just 24 hours indicates that retail interest is picking up, which could lead to increased trading volume. However, the price remains capped at the $1.35 resistance level, which has historically been a tough barrier to break. Traders should watch for a potential breakout above this level, as it could trigger a bullish momentum shift. On the flip side, if XRP fails to break through and starts to retrace, it could lead to a sell-off, especially if broader market sentiment turns negative. Keep an eye on the daily chart for any signs of consolidation or reversal patterns around this resistance. For now, monitor the trading volume closely; a sustained increase could signal that the bulls are gaining strength. If XRP can close above $1.35 on strong volume, it might pave the way for a run towards the next resistance level, potentially around $1.50. Conversely, a drop below $1.25 could indicate a bearish trend, so set alerts accordingly.