300 Million in 48 Hours Gone, What’s Next?

By: bitcoin ethereum news|2025/05/02 20:45:01
0
Share
copy
The network activity of XRP appears to be waning, as evidenced by a sharp decline in a crucial on-chain indicator: the volume of payments between accounts. According to data, this metric reached a peak of more than 800 million XRP in early April, and then it reached another peak nearer 500 million XRP later in the month. On April 30, it fell to just 527 million continuing a definite downward trend. The short-term price performance of XRP may be negatively impacted by this drop in transactional activity. XRP Ledger’s payment volume frequently represents both institutional and retail usage. Persistent declines indicate declining transactional demand or network engagement, which usually precede price stalls or even pullbacks if they are not reversed. A prolonged decline in such on-chain activity limits bullish momentum, even though it does not always correlate with price right away. Technically speaking, XRP is presently trading at about $2.13, precisely at the tip of a wedge made up of a rise in support and a fall in resistance. After weeks of price action compressing within this structure, a breakout is now certain. You Might Also Like However, the tapering RSI at 53 and the recent inability to push past the $2.20 resistance convincingly points to indecision and a possible momentum stall. Instead of showing a definite bullish or bearish trend, the EMAs are closely clustered and the volume is low, suggesting consolidation. A quick return to the $2.00, or even the $1.98 zone, may occur if XRP breaks below the current ascending support, which is located just above $2.13. The drop in payment volume of 300 million XRP is indicative of waning fundamental activity on the chain which, when combined with ambiguous technicals, calls for caution. Instead of a breakout, XRP might be preparing for a brief pullback unless we witness a fresh breakout above $2.20 supported by volume and on-chain growth. Source: https://u.today/xrp-300-million-in-48-hours-gone-whats-next

-- Price

--

You may also like

Morning News | The draft amendment to the People's Bank of China Law aims to clarify the legal status of digital renminbi; South Korea will transfer about 40 unregistered virtual asset service providers to law enforcement agencies

Overview of Important Market Events on June 24

The cryptocurrency industry has entered the "Show Me" era: merely relying on vision is no longer enough

The awareness level of the audience in the cryptocurrency industry—including media, institutions, and retail investors—is steadily increasing, and this trend has become a foregone conclusion.

Interpreting the Ethereum Foundation's new structure: Reaffirming self-sovereignty amid institutional trends

The Ethereum Foundation has announced a new five-layer working framework, clarifying the focus of future development and reaffirming its commitment to decentralized core values amidst the wave of institutionalization.

Former SpaceX engineer reconstructs the financial execution system using first principles

Plan Execution Lab completes angel round financing for Singapore family office, with a valuation of 50 million USD.

Tidal Investment: We still have a positive outlook on the AI industry chain, but the reasons have changed

The intense financing by tech giants has triggered a panic of "AI peak," but the soaring capital expenditures of the five major cloud vendors and the bottlenecks in physical infrastructure indicate that the AI investment cycle is far from over; the second half of this grand performance has just begu...

Standard Chartered Bank sings a 50x rhapsody again, aiming for AAVE to reach 3500 USD

The throne of DeFi lending still exists, but the foundation beneath the throne needs to undergo a reconstruction or reinforcement.

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com