XRP network activity has significantly decreased, coinciding with the drop in token price. Experts analyze the current state and predict possible market changes.
Decline in XRP Address Activity
According to blockchain analytics firm Glassnode, the number of active XRP wallets has declined by over 50% since December 2024, dropping from 203,000 to 82,000. This reduction in network activity coincides with XRP's price falling to $1.9939, down 9.23% over the past 24 hours.
Price Chart Analysis and Technical Indicators
XRP's price chart shows a head-and-shoulders pattern, a technical indicator often linked to potential price declines. The token trades below its 50-day moving average ($2.5019), signaling sustained selling pressure. The Accumulation/Distribution indicator also points to reduced demand.
Future of XRP Amid Uncertainty
XRP is currently trading at $2.04 USD, reflecting a 4.57% drop in the last 24 hours. Over the past week, the price has declined by 22.06%, and in the last month, it has fallen by 31.42%. Despite the recent decline, XRP has seen a 255.05% increase over the last year, showcasing its growth in the long term. XRP reached its highest price of $3.40 USD on January 16, 2025, but since then, it has dropped by approximately 35%. The recent drop has been partly driven by ongoing regulatory issues with the SEC, which continues to add uncertainty to the price action of XRP.
The decline in network activity and price of XRP raises concerns among investors and analysts. Despite long-term growth, the current situation demands careful analysis and assessment of potential prospects.
