A large obstacle has faced XRP prices, as the new data indicates the amazing XRP flow 730 million of the network payment volume. The investor’s confidence may be eroded, as it becomes clear from the decrease in activity in the field of transactions, which raises concerns about the ability of the original to preserve its escalation. path.
After making an effort to overcome large resistance levels, XRP has difficulty maintaining its upward direction. The price did not benefit from the broader market recovery and recently remained about $ 2.32. XRP has not been able to recover the lost land due to the dynamic resistance areas provided by the moving averages for 50 days and 100 days. The original was celebrating the highest lower levels, as shown in the price chart, which may indicate a decrease in purchase pressure.
The sharp decrease in the size of the XRP of payments on the chain is the most disturbing aspect of slow recovery. The general health concerns of the network are raised by the XRP decrease of 730 million, which represents a noticeable decrease in transactions activity. A significant decrease in the payment volume usually indicates a decrease in benefit and dependence, which is concerned with any asset trying to recover.
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Historically, price pools in the cryptocurrency market preceded a strong network activity. However, the latest data indicates that the user sharing and capital flows within the ecosystem are still not present, even despite the high prices of the previous XRP. This style may indicate an additional risk in the downside of the original if it continues. With the increased network activity, XRP needs to restore important resistance levels at $ 2.50 and $ 2.70 in order to restore its upper momentum.
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This may be possible over these critical areas by returning the accumulation of important whale or a rise in trading volume. However, if XRP is unable to keep more than $ 2.30, there may be more declines about $ 2.10 or even $ 1.85 in the future. Investors who hope to obtain a long -term march may be under pressure if the XRP adoption and its benefit may not increase. To determine whether XRP can restore the lost land or continue its landmark, the market participants will closely monitor the scales on the series in the coming days.
