Despite a 17% decline in price over the past week, on-chain data indicates a surge in network activity for XRP, suggesting growing demand and increased user engagement. The number of active XRP addresses significantly increased, reaching over 370,000, and there was a spike in active addresses from February 21 to March 10. However, XRP's exchange outflows from Binance have declined, indicating a slowdown in large-scale withdrawals and potential uncertainty about price direction. Some analysts believe the price decline may be a result of short-term speculative trading rather than fundamental weakness, with traders holding onto their assets. The data suggests an equilibrium in the market, with neither buyers nor sellers having a decisive advantage. It remains to be seen if this strong activity will lead to a price recovery or continued consolidation.



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