Due to the fact that in relation to the trend found in the data from its activities on the network, the XRP is currently on the key point both in its technical and fundamental development. Six out of eight key performance indicators in the XRP book in trend below, according to the analysis of indicators, which may indicate a decrease in the activity of investors and market interest in general. On the price schedule, XRP has problems with maintaining their upward trend.
The strong resistance of 50 and 100 EMA holds it in the range from $ 2.22 to $ 2.23, even if he tried to break above the $ 2.10 range. Despite the possibility of a breakthrough, the channel of the descending price remains a long -term suppressor. The risk of rollback is still very high if the XRP does not break these levels with volume.
The main data confirm this cautious approach. During the previous 30 days, XRP metrics in the chain, such as the quantity and number of payments, general transactions of active accounts and even burned fees, all decreased. Since a decrease in network activity and user involvement usually precedes weaker price actions, this is a sign of this. It is noteworthy that only two indicators demonstrate a small upward movement, which may be associated with a brief increase in the volume of payments and the betting rates of transactions.
However, they are not important enough to compensate for more general bear signals. One of the possible explanations of this decrease in the use of the network is either the absence of significant ecosystem achievements, or the migration of users to other blockchains with more attractive Defi or NFT ecosystems. XRP is susceptible to wider market corrections from the absence of reliable public utilities.
XRP can return to the level of support for $ 2 or lower, if there is still a slight pressure of the sale, and there is not enough activity in the chain. Not only are technological achievements will be necessary for long -term recovery, but it is also necessary to improve use indicators, which is not so. Despite the fact that the XRP is still trading in a descending blade, which often hints at the bull, the absence of data confirmation in the chain causes serious doubts about the long-term tendency to increase. If the basis of the network does not show a noticeable improvement, the price of XRP may feel a further decline to a possible rise.
