XRP transaction price plumps 90% in the past year, causing concern among investors. According to data from Glassnode, XRP's daily transaction fees have drastically dropped from 5,900 XRP in February to just 650 XRP per day. This decline is also followed by a 59% drop in open interest on XRP futures contracts [1][2].
*Impact of Declining Transaction Fees:*
- Indicates a decrease in network activity and potential decline in XRP usage
- May affect XRP price in the short term
- Causes XRP price instability
*XRP Price Analysis:*
- Current XRP price around $2.01
- Approaching support level $2.00, which could be a turning point
- Some analysts predict XRP price could rise if it breaks through resistance level $2.12-$2.15
