CandleFocus XRP Network Plummets by 50%: What's Happening?
2024-11-08
Author: Content Editor
The recent data on XRP's network activity indicates a significant decrease in whale transactions and overall movement, with transaction volume dropping by more than 50%. The decline in network activity suggests that major holders and investors may be growing cautious about the asset's ability to sustain its recent surge. This decrease in activity may also result in less liquidity and price stability for XRP in the short term. The asset is currently facing resistance levels around $0.55-$0.57, which could indicate selling pressure. If XRP fails to break above these levels and maintain higher volume, it may experience a period of consolidation or even a bearish outlook. Investors should closely monitor price action and network metrics to see if there is a resurgence of whale activity.
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