Recently, there has been activity in the XRP cryptocurrency market, including an increase in large wallets and discussions about its decentralization.
XRP Prices and Trading Volumes
At press time, XRP was priced at $2.17, down 1.3% from the previous 24 hours. Trading volume also fell 13.5% to $2.22 billion during the same period. Over the past week, XRP has gained 0.6%, with a total market capitalization of $127.78 billion.
Market Indicators and Trends
The Relative Strength Index (RSI) currently stands at 43.88, which is below the neutral threshold of 50, indicating slightly bearish momentum. Meanwhile, the Awesome Oscillator (AO) is showing a mildly positive reading of 0.06753, indicating an absence of a clear trend. Both metrics suggest that price fluctuations may be short-lived.
Decentralization Debate Around XRP
John Deaton, an attorney involved in the SEC vs. Ripple case, commented on claims regarding the decentralization of XRP. He noted that Ripple's holding of 40% of the coin supply does not automatically indicate centralization. Deaton emphasized the importance of global usage, pointing out that over 75,000 holders from 140 countries supported his participation in the lawsuit.
The observed trend of increasing whale wallets and community support in legal proceedings highlights interest in this cryptocurrency despite relatively weak price indicators and a lack of clear market trends.
