- XRP active addresses plummeted 50% (203K to 82K) since December 2024, signaling weakened network engagement and price risks.
- XRP price dropped 9.23% to $1.99, trading below key technical indicators like the 50-day moving average ($2.50).
The number of active XRP wallets has declined by over 50% since December 2024, falling from 203,000 to 82,000, according to blockchain analytics firm Glassnode. This reduction in network activity coincides with XRP’s price drop to $1.9939, down 9.23% in 24 hours, as broader cryptocurrency markets correct.
XRP’s price chart shows a head-and-shoulders pattern, a technical indicator often linked to potential price declines. The token trades below its 50-day moving average ($2.5019), signaling sustained selling pressure. The Accumulation/Distribution indicator, which tracks buying and selling trends, also points to reduced demand.
ETHNews analysts note that prolonged low network activity historically correlates with price stagnation or declines. XRP could test support levels near $1.80 if selling persists. A rebound would require reclaiming the $2.20-$2.25 resistance zone and a revival in wallet activity.
ETHNews investors interpret the slump as a buying opportunity, the lack of transactional momentum suggests storm clouds gathering for XRP’s short-term trajectory. Market participants await signals of renewed network engagement to gauge recovery prospects.
XRP is currently trading at $2.04 USD, reflecting a 4.57% drop in the last 24 hours. Over the past week, the price has declined by 22.06%, and in the last month, it has fallen by 31.42%. Despite the recent decline, XRP has seen a 255.05% increase over the last year, showcasing its growth in the long term.
XRP reached its highest price of $3.40 USD on January 16, 2025, but since then, it has dropped by approximately 35%, falling from $2.60 to its current value of $2.04. The recent drop has been partly driven by ongoing regulatory issues with the SEC, which continues to add uncertainty to the price action of XRP.
