XRP Aims for $2.80 After Burn Rate Surge – Will It Hold?

XRP is showing strong signs of renewed market activity, with both price action and on-chain metrics indicating a rise in engagement.

Traders and investors are returning, increasing demand for the asset despite its recent struggles with resistance levels.

XRP Burn Rate Rises

A key factor driving this momentum is the increase in XRP burned as transaction fees. On February 17, over 5,500 XRP were burned, highlighting a rise in blockchain activity.

Historically, higher burn rates have often preceded price movements, as they indicate greater network usage from trading and institutional activity.

Technical Indicators Support an Uptrend

From a technical perspective, XRP remains above key support levels and is following an upward trendline.

The price has been holding steady around $2.50, and if buying pressure continues, XRP may attempt a breakout toward the $2.70–$2.80 range.

However, a pullback remains possible if this trend is not sustained, with key support forming around $2.25. Moving averages remain supportive, particularly the 50-day EMA, which is acting as a strong floor for XRP’s price.

Will XRP Keep Rising?

While higher burn rates and increased network activity are positive indicators, sustained growth depends on overall market conditions and demand. If bullish momentum continues, XRP could break through resistance and move higher.

Traders should watch for a potential consolidation phase before the next big move. If network activity remains strong, it could signal growing investor confidence, paving the way for XRP’s next major price shift.