A significant obstacle was encountered using XRP, since new data indicate an amazing XRP outflow of 730 million XRP from the volume of network payments. The trust of investors can destroy, as evidenced by the fall of transactional activity, which expresses concern about the ability of an asset to maintain its ascending trajectory.
After the XRP made efforts to surpass significant resistance levels, the XRP was difficult to maintain its tendency to increase. The price did not benefit from the restoration of a wider market and recently remained about $ 2.32. XRP was unable to restore the lost land due to the zones of dynamic resistance provided by 50-day and 100-day sliding average. Assets note lower maximums, as can be seen in the price schedule, which may indicate a weakening of the purchase pressure.
A sharp decrease in the volume of payments per second is the most alarming aspect of its slow restoration. The fear of the general state of health of the network increases with the help of 730 million XRP, which is a noticeable decrease in transactional activity. A significant drop in the volume of payments usually means a decrease in utility and adoption, as for any asset trying to recover.
Price rallies in the cryptocurrency market historically preceded reliable network activities. Nevertheless, the latest data indicate that the involvement of users and capital flows in the ecosystem are still absent, even despite the previous XRP spikes. This template may indicate an additional risk of reduction for the asset if it is preserved. As the XRP network activity increases, it is necessary to restore important resistance levels at the level of $ 2.50 and $ 2.70 in order to restore its bull impulse.
The breakthrough above these critical zones can be possible thanks to the return of a significant accumulation of whales or a surge of the volume of trading. However, if the XRP cannot hold above $ 2.30, in the future there may be more falls of $ 2.10 dollars or even $ 1.85. Investors who hope for a long -term rally can be under pressure if the adoption and usefulness of the XRP does not increase. To determine whether the XRP can restore the lost land or continue their descending trajectory, market participants will carefully monitor the metrics in the chain in the coming days.
