The post 300 Million in 48 Hours Gone, What’s Next? appeared on BitcoinEthereumNews.com.

The network activity of XRP appears to be waning, as evidenced by a sharp decline in a crucial on-chain indicator: the volume of payments between accounts. According to data, this metric reached a peak of more than 800 million XRP in early April, and then it reached another peak nearer 500 million XRP later in the month. On April 30, it fell to just 527 million continuing a definite downward trend. The short-term price performance of XRP may be negatively impacted by this drop in transactional activity. XRP Ledger’s payment volume frequently represents both institutional and retail usage. Persistent declines indicate declining transactional demand or network engagement, which usually precede price stalls or even pullbacks if they are not reversed. XRP/USDT Chart by TradingView A prolonged decline in such on-chain activity limits bullish momentum, even though it does not always correlate with price right away. Technically speaking, XRP is presently trading at about $2.13, precisely at the tip of a wedge made up of a rise in support and a fall in resistance. After weeks of price action compressing within this structure, a breakout is now certain. You Might Also Like However, the tapering RSI at 53 and the recent inability to push past the $2.20 resistance convincingly points to indecision and a possible momentum stall. Instead of showing a definite bullish or bearish trend, the EMAs are closely clustered and the volume is low, suggesting consolidation. A quick return to the $2.00, or even the $1.98 zone, may occur if XRP breaks below the current ascending support, which is located just above $2.13.  The drop in payment volume of 300 million XRP is indicative of waning fundamental activity on the chain which, when combined with ambiguous technicals, calls for caution. Instead of a breakout, XRP might be preparing for…

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Filed under: News - @ May 2, 2025 12:27 pm