Altcoins News
By Maheen Hernandez
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XRP, Ripple’s native token, is showing signs of weakening as recent on-chain data reveals a sharp decline in network activity.
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On-chain metrics indicate a substantial drop in XRP payment volumes. Earlier this month, daily account-to-account transactions consistently surpassed one billion XRP, reflecting…
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This decline in usage suggests that the XRP network is losing some of its utility and appeal, which could affect its long-term adoption.
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XRP’s recent market performance confirms the bearish tone indicated by on-chain data. Following a rally that lifted XRP above $3.
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However, technical indicators suggest limited buying strength. The asset has broken below the previously rising trendline that supported its bullish structure, a clear signal…
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Momentum indicators reinforce the cautionary outlook. Relative Strength Index (RSI) readings are neutral to weak, indicating that buyers are struggling to regain control.
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The decrease in XRP payments and network activity directly impacts market confidence. The token’s adoption for remittances and institutional transfers depends on high transaction…
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Analysts note that for XRP to stabilize, on-chain activity must increase, with daily transactions returning toward the one billion XRP mark.
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From a technical perspective, several key levels will determine XRP’s near-term trajectory:
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Support at $2.79: This aligns with the 100-day EMA and could temporarily stabilize the price.
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Next support at $2.45: Corresponding with the 200-day EMA, this level could serve as a deeper safety net if selling pressure continues.
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Resistance at $3: Breaking above this mark would be a critical signal that bullish momentum is returning.
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Reclaiming the ascending trendline and breaking above $3 per hour would be the first indications of renewed strength in XRP.
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The divergence between XRP’s technical chart and on-chain activity underscores the challenges facing the token.
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Persistent weakness could further pressure the token, potentially driving prices lower if buying interest fails to recover.
The Currency Analytics
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