XRP traders eye opportunities as market signals shift, despite a drop in network activity.
Market and XRP Price Analysis
Crypto analyst Bitcoin Buddha highlighted XRP's rise from $0.58 to $3.40 between November and December 2024. Currently, the price hovers around $2.03, below its peak. The current price range is seen as an opportunity for dollar-cost averaging.
Breakout Potential and Key Levels
Bitcoin Buddha sees a potential for XRP's price to rise if it breaks above $2.72. The chart analysis suggests a bullish formation. Resistance levels are at $2.72 and $3.30, while support is at $2.00.
Decline in XRP Network Activity
Analyst Ali reported a 50% decline in XRP's network activity since December. This could indicate reduced user interest or a consolidation phase.
The current market and network data create mixed projections for XRP. Analysts note potential for growth despite the current decrease in network activity.
