The XRP has continued to weaken in the recent past, with prices fluctuating around $1.10. Citing Glassnode data, the article states that active addresses in the XRP chain have been down to a low level for almost a year, and the turnover has remained low, indicating that market participation is declining.
The active address dropped to about 20,000.
Glassnode data show that in recent weeks there has been a marked decline in XRP active addresses, which now stands at about 20,000, almost a year low. This means that actual transactions on XRP Ledger are slowing down and that user participation is significantly lower than before.
Active addresses are often seen as important indicators for measuring use in the chain. If this data continues to fall, it tends to indicate a lack of new demand, a lack of sufficient buyout support in the market, and a consequent increase in price backlash.
Trade and financial flows continue to be weak.
Apart from the decline in chain activity, there was no significant improvement in the volume of XRP spot transactions. It is submitted that this reflects the fact that the buyer has not regained its initiative and that the market as a whole remains cautious.
At the same time, the Chaikin Money Flow indicator is still below the zero axis, and the value given is -0.13, indicating that the outflow of funds is still higher than the inflow. The lack of a significant shift in the financial landscape has also weakened the short-line rebound base.
One dollar to the next.
In terms of price structure, the XRP is still operating in the long-term lower-lane corridor. The article mentions that the retreat of 0.236 Fibonacci in the vicinity of US$ 1.16 is a relatively close area of resistance; failing to recover the position, the market view may continue to turn to the full US$ 1 level.
The original view was that if the XRP could hold the US$ 1 and be accompanied by a rise in active address and turnover, the price would have the opportunity to test the resistance on the route again. If this support is broken, the response may be further expanded.
Overall, the analysis considers chain dynamics, turnover and changes in financial flows to be key indicators of the subsequent movement of the XRP. While prices are still down the road, the proximity of US$ 1 has become one of the most important current concerns of the market.