Ripple Price Analysis: Mixed Signals Ahead of Key Resistance Levels

XRP's price has been showing mixed signals as on-chain activity increases while it continues to face pressure on the price chart. Despite a significant rise in daily active addresses, which grew from 23,000 on June 14 to nearly 39,500, XRP's price remains below important resistance levels.

The cryptocurrency is currently trading at $1.05, down compared to the previous day, with a 24-hour trading volume of $1.40 billion and a market capitalization of $65.40 billion, taking up 3.15% of the total crypto market.

According to crypto analyst Ali Martinez's recent post, XRP network activity has been growing. The data from Martinez shows that daily active addresses have risen significantly over the past two weeks.

If bulls reclaim momentum and break above the 55-period EMA at $1.0988, the cryptocurrency could target $1.16. However, if sellers continue to defend key resistance levels, XRP's price may return to support near $1.0342 and further towards $1.01.