Thanks to the metrics, during the chain and technical indicators involving an alarming slowdown, XRP is again experiencing difficulties with holding its position. XRP survived another rejection of price near 100 EMA, a critical line of dynamic resistance, which the assets could not break since the end of February after a brief test of the upper boundary of his descending trading channel. At the current price of about $ 2.14, XRP keeps modest success, but loses its position.
The asset is located below several resistance levels such as $ 2.23 and $ 2.42, which caused changes in the past. Support is still weak, and $ 2.00 is the closest remarkable threshold. The decrease below this threshold can lead to the second re -testing of the local bottom of about $ 1.95.
From the point of view of network activity, the situation is equally connected with. According to the data in the chain, payments in the book XRP have decreased significantly. As of April 14, the amount of money transferred daily between the bills decreased below the psychological threshold by one million, reaching 997 121.
Although the number may seem slightly lower, in fact it is a critical threshold that has historically been associated with interruptions on the network and a decrease in user involvement. The token, which primarily depends on the real cases of use to obtain the cost, can be at risk of reducing network activity, which often indicates the decreasing confidence of investors or the lull in institutional utility.
This opinion is supported by stagnation from Tom, which can be seen on the price schedule. Over the past week, the XRP trade volume has been reduced, which emphasizes the absence of bull belief even in the face of improving the macromarket. Bitcoin stability helps to restore cryptocurrencies in the larger market, while XRP seems to be lagging behind.
In the near future, any rally is at risk of turning into a trap trap if the asset does not break above the resistance of $ 2.42, with an increase in volume and a change in use in the chain. In short, XRP must again be obtained both technical force and transactional activities in order to avoid one of the few lagging behind in the market, which is otherwise revived.
