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Investors’ confidence was shaken by a 40% XRP drop, but chain data indicate that the big holders are not concerned. The fact that the XRP payment volume, the number of active accounts and burned costs are all relatively stable despite the steep sale suggests that the whales may not have been haste to sell. XRP fell to $ 2.00 after reaching a local summit of around $ 3.40.
He broke below important mobile averages such as the 50 EMA at $ 2.61 and the 100 EMA at $ 2.15. The ability of the asset to maintain its upward structure is questioned by this sharp decline. The level of $ 2.00 serves as an essential psychological support at the moment. If it breaks, XRP can fall to the 200 EMA, which is located at $ 1.60.
A drop lower than this level would put XRP at a serious risk of delighting even more, perhaps at $ 120, a historically significant area which served as previous resistance. To restore the bullish momentum, XRP must recover $ 2.61. The trend is always down until XRP crosses more than $ 3.00, but a successful rebound in the 100 EMA at $ 2.15 could lead to a rescue rally. Despite the collapse of recent prices, the XRP payment volume remained coherent when examining the measures on the chain.
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This shows a coherent use of the network and implies that significant transactions are still occurring. In the same vein, the quantity of active accounts has not significantly decreased, indicating that XRP owners do not run away en masse. Usually, significant drops are followed by a drop in active addresses, but this is not the case in this case. The XRP burned like the costs, which remains at normal levels, is another important factor.
This metric would probably experience an unusual peak, indicating an increase in transaction activity on the chain if the sale of panic took place on a large scale. The asset can be in prolonged decline; If the XRP bulls are unable to maintain the support of $ 2.00, the following key levels to keep an eye on $ 1.60 and $ 1.20. However, XRP may have the possibility of reverse this vicious downward trend if the purchase of pressure resumes and that it finds $ 2.61.
