The post XRP Price Under Pressure as Market Volatility Grows appeared on BitcoinEthereumNews.com.

XRP experienced a 165% increase in trading volume while market conditions declined indicating positive investor enthusiasm. On-chain activity has decreased, reflecting lower user participation, which may negatively impact market sentiment and network adoption. Ripple’s native crypto, XRP, has experienced a downturn in the last 24 hours, with its price dropping 7.52% and recording an intraday low of $2.09. Despite this decline, trading volume surged by 165%, highlighting increased investor activity. The XRP price chart underwent initial extreme volatility following its brief price increase before following declining patterns that mirrored broader market movements.  On-Chain Activity Signals Decreased Engagement Recent on-chain data reveals a decline in XRP payments, active accounts, and executed transactions. This suggests lower network activity and a potential reduction in user engagement. Weaker adoption and reduced transaction volume indicate that fewer new users are entering the ecosystem. This slowdown could impact sentiment, as lower on-chain activity often signals a reduced level of confidence in the asset. Market data from Coinglass shows XRP open interest decreased by 7.47%, bringing the total down to $3.11 billion. This decline suggests reduced speculative trading, which could lead to lower price volatility unless fresh investor interest emerges. Despite the current market slump, analysts remain optimistic about XRP’s long-term potential. Crypto analyst Ali Martinez has identified a head-and-shoulders pattern forming on the XRP price chart. Typically, this pattern suggests bearish activity, but its impact will depend on XRP’s ability to hold key support levels. If XRP drops below the neckline, it could confirm a bearish continuation, leading to further losses. If XRP breaks above the right shoulder, it could invalidate the bearish pattern and push the price toward $5. Factors Influencing XRP’s Price Outlook Multiple essential factors currently determine the future price trajectory of XRP. The implementation of a multi-crypto reserve system would lead to…

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Filed under: News - @ March 10, 2025 5:22 pm