XRP price under pressure amid technical weakness and reduced whale holdings XRP holds below $1.90, weighed down by a deteriorating technical picture as the RSI edges lower. The XRP Ledger faces a significant slump in on-chain activity, with newly created addresses averaging 3,440. XRP whales persistently reduce risk exposure, with the value held by addresses with more than 100,000 tokens falling to $104 billion. XRP price under pressure amid technical weakness and reduced whale holdings John Isige John Isige FXStreet
Ripple (XRP) is extending its decline below $1.90 at the time of writing on Tuesday, as headwinds intensify across the crypto market. Negative market sentiment has persisted despite a surge in inflows to XRP spot Exchange Traded Funds (ETFs).
As reported, US-listed XRP ETFs posted nearly $44 million in inflows on Monday, up from approximately $13 million on Friday. The cumulative net inflow stands at $1.12 billion, and net assets at $1.25 billion.
XRP ETF stats | Source: SoSoValue XRP ETF stats | Source: SoSoValue XRP Ledger on-chain activity dips The number of newly created addresses on the XRP Ledger (XRPL) has remained relatively suppressed, averaging 3,440 as of Monday, down from 4,501 on December 1 and approximately 13,500 on November 11.
A low number of active addresses indicates that adoption of XRP on the protocol has declined, which in turn reduces demand. Unless a reversal occurs and new addresses increase, it could be difficult for XRP to sustain its recovery amid headwinds.
XRP Number of New Addresses | Source: Glassnode XRP Number of New Addresses | Source: Glassnode Meanwhile, the Supply Distribution metric shows that the notional value held by addresses with over 100,000 coins has declined to approximately $104 billion as of Monday, from nearly $106 billion on Sunday and almost $108 billion, recorded on December 1.$XRP $SOL
XRP Ledger on-chain activity dips The number of newly created addresses on the XRP Ledger (XRPL) has remained relatively suppressed, averaging 3,440 as of Monday, down from 4,501 on December 1 and approximately 13,500 on November 11.
A low number of active addresses indicates that adoption of XRP on the protocol has declined, which in turn reduces demand. Unless a reversal occurs and new addresses increase, it could be difficult for XRP to sustain its recovery amid headwinds$XRP $SOL $
XRP holds below $1.90, weighed down by a deteriorating technical picture as the RSI edges lower. The XRP Ledger faces a significant slump in on-chain activity, with newly created addresses averaging 3,440. XRP whales persistently reduce risk exposure, with the value held by addresses with more than 100,000 tokens falling to $104 billion. $XRP $SOL Ripple (XRP) is extending its decline below $1.90 at the time of writing on Tuesday, as headwinds intensify across the crypto market. Negative market sentiment has persisted despite a surge in inflows to XRP spot Exchange Traded Funds (ETFs).
As reported, US-listed XRP ETFs posted nearly $44 million in inflows on Monday, up from approximately $13 million on Friday. The cumulative net inflow stands at $1.12 billion, and net assets at $1.25 billion
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