XRP Ledger has reached a ten-day high in network fees, reaching nearly 4,000 XRP on April 24th. This surge coincides with the asset’s price currently hovering near $2.20. While this spike indicates increasing demand and network usage, it may not accurately reflect current market sentiment. Despite this, recent activity points to a potentially strong future for XRP. High transaction counts around two million per day, coupled with the record burn rate, showcase active utilization of the network. This sustained activity suggests long-term demand for the asset, especially if burn rates continue to increase and supply becomes more restricted. However, the current chart pattern presents caution. The asset’s trend has been characterized by a wider descending channel since late 2024, with no complete break yet. Buyer hesitation remains evident in the volume levels that have not significantly increased. To achieve sustained bullish momentum, XRP needs to decisively break above $2.20 and hold there before attempting to penetrate resistance between $2.40 and $2.50. Successful breaking of this level could trigger a potential long-term uptrend. While high burn rates and consistent transaction volume offer encouraging signals, for a substantial price breakout, these indicators must align with the current market trend. Until then, XRP remains caught between technical resistance and promising fundamental factors.