A massive surge in XRP transaction volume recently reached 647 million transfers on March 31st, signaling a significant shift in market activity. The recent spike in transactions is accompanied by price action that has seen XRP climb to $2.17 – a 4.26% increase from the previous day. This upward movement, after a brief dip below the sub-$2 support level, suggests buying pressure remains strong, particularly as it broke above the long-term trendline. Despite this bullish surge, XRP remains within a descending triangle pattern, highlighting caution is still necessary. The price is currently testing resistance at three moving averages – the 50, 100 and 200 EMAs. A successful breakout above $2.30 could invalidate the downtrend and signal broader rally, while failing to break through this level may lead to a retest of the $1.95-$2.00 range. It’s crucial to note that the correlation between price action and on-chain activity is undeniable, with significant price changes often preceding large transaction spikes. Possible explanations for the sudden surge could include whale repositioning or institutional movement within the XRP Ledger. However, it remains unclear exactly what triggered this drastic surge in activity, ultimately leading to increased market volatility. The $2.50 and $2.80 marks present bullish targets if the momentum continues, while a continued lack of progress may push prices back into the $1.95-$2.00 range.