The XRP price has been trading in a narrow range of $2.05 to $2.33 over the past 30 days, with the elusive $3 mark still out of reach. In-depth analysis of on-chain data and technical indicators sheds light on why XRP is stagnant currently.
The XRP Ledger network has experienced a significant decrease in activity over the past six months. On-chain data shows that the number of new daily addresses has dropped well below the peak of 15,823 reached in January 2025. Only 3,500 new addresses were created last Thursday.
Likewise, the number of daily active addresses has plummeted to 34,360. This is far from the record of 577,000 set 3 months ago. This decline in network activity reflects reduced interest and confidence from users in XRP in the short term.
The inability of XRP to reach $3 is also due to the decrease in open interest, which has fallen by 30% in a month to $3.89 billion. This decline suggests that investors are gradually disengaging, betting on a further decline in XRP’s price.
Technically, the price of XRP is currently stuck below a key resistance zone ranging between $2.22 and $2.40. This is where the main simple moving averages are located. Unless XRP bulls manage to push the price above this zone, the altcoin is at risk of remaining trapped in a consolidation phase for several weeks, similar to previous episodes of this kind.
In a bearish scenario, a break below the support at $2 would pave the way for a plunge to $1.20, according to analyst CasiTrades. However, XRP could also initiate a spectacular surge towards $10, similar to what happened in 2017 after a long consolidation phase.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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