Recent data reveals a sharp decline in XRP’s network activity, with whale transactions and major payments dropping by more than 50% over the past month. This slowdown in movement and transaction volume indicates reduced participation from large investors, signaling potential caution in the market.
<h3>Price Facing Strong Resistance Around $0.57</h3>
XRP is trading at approximately $0.55, grappling with significant resistance in the $0.55-$0.57 range. Although XRP recently moved past key moving averages, it faces selling pressure near these resistance levels, a zone where previous attempts to break through have seen swift retracements. To maintain upward momentum, <a href="https://xrpscan.com/metrics" target="_blank" rel="nofollow noopener">XRP</a> would need to break and sustain levels above $0.57 on higher trading volume.
<h3>Whale Activity Decreases as Caution Grows</h3>
The decline in whale activity could suggest a hesitance from large investors, potentially reflecting a sentiment that XRP might struggle to sustain its recent price movement. Reduced network activity could mean fewer major transactions, potentially limiting liquidity and leading to a period of price stability. However, if this pattern continues, it could imply waning interest, which may drive prices lower.
<h2>Key Support Levels to Watch</h2>
If the downtrend in network activity persists, <a href="https://www.cryptoknowmics.com/news/ripple-files-cross-appeal-in-sec-case-xrp-sees-modest-price-increase/" target="_blank" rel="noopener">XRP’s price</a> might retest support levels around $0.50 to $0.53, areas that have historically shown resilience. Failure to maintain recent gains and hold above key moving averages could indicate a retracement, suggesting that XRP might consolidate at lower levels.

Investors should keep an eye on both price movement and network metrics to gauge whether major players might reenter the market and bring new momentum, potentially propelling XRP past current resistance and reigniting interest in the asset.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

XRP Network Activity Declines as Price Faces Key Resistance Levels

XRP network activity drops over 50%, signaling caution among major investors. Key resistance remains at $0.57, with short-term support around $0.50-$0.53.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

XRP Network Activity Declines as Price Faces Key Resistance Levels

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