XRP Shows Bullish Signs Amid On-Chain Slowdown
Key Takeaways
- XRP is showing a bullish chart pattern, indicating a potential price increase.
- Options and spot markets are seeing strong buying interest – 11 million USD has been invested in XRP.
- At the same time, on-chain activity is dropping significantly, which could slow down the upward trend.
Chart Pattern Signals Possible Trend Reversal
XRP is currently forming an “Inverted Head and Shoulders” pattern. This reversal pattern often suggests an upcoming upward move. On the 4-hour chart, XRP could rise towards 2.50 USD – a level last reached on March 24.
Options and Spot Markets Show Strong Interest
In the past 24 hours, trading volume in XRP options surged by 256%. Open interest – the total value of outstanding options – reached 220,860 USD. This indicates that many traders are betting on rising prices.
Activity is also noticeable in the spot market: XRP worth 11 million USD has been withdrawn from exchanges and transferred to private wallets. Such transfers suggest long-term confidence in the coin. If this trend continues, it could lead to a supply shortage – potentially driving the price even higher.
Decline in On-Chain Data as a Warning Sign
Despite positive signals from trading, blockchain activity tells a different story. The number of executed transactions dropped from 1.56 million to 660,000 within a single day. The number of active wallets – especially senders – also fell from 20,700 to 8,500.
These figures indicate that fewer users are actually using XRP. If this trend continues, it could significantly slow down or even prevent the expected price increase.
What Does This Mean for You as a Trader?
If you’re invested in XRP or considering entering the market, you should look at both sides: On one hand, there are clear bullish signals from the market environment. On the other hand, network usage is weakening. This could lead to short-term uncertainty.
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Keep an eye on on-chain data. An increase in transactions and active users would confirm the positive trend. However, if these remain low, caution is advised – even if prices are rising.
Our Assessment
XRP is currently at a critical juncture. Technical patterns and trading activity suggest a potential rally. However, low blockchain usage is dampening momentum. Investors should be prepared for short-term volatility and regularly monitor on-chain developments. In the long term, XRP remains an interesting candidate – provided network activity picks up again.
| Symbol | XRP |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $2.20 |
| 24h % | 2.66 % |
| 7d % | 5.97 % |
| 30d % | -10.86 % |
| 60d % | -11.01 % |
| 1y % | 318.15 % |
| Official Links | Website |
| Socials | X |
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