TLDR
- Record Network Activity: Weekly active XRP addresses hit 1.15M, signaling heightened interest despite price drops.
- Critical Support Test: XRP price dipped to $2.19, nearing the pivotal $2.14 support level.
- Bearish Leverage Barrier: A $297M short-position cluster at $2.70 poses a major resistance hurdle.
- Transaction Surge: 24-hour trading volume spiked to $5B, with wallet activity up 600%.
Market Overview
Ripple’s XRP exhibits conflicting signals—soaring network usage amid bearish price action. Currently trading at $2.19, XRP has declined 6% in 24 hours.
Key Metrics
- Active Addresses: 1.15M (all-time high, per Santiment).
- Transaction Volume: $5B in 24 hours (@scottmelker).
- Wallet Activity: Increased by 600%, suggesting institutional or speculative movement.
"Big money is moving—something is brewing with XRP."
— Scott Melker, Market Analyst
Technical Analysis
Indicators
- MACD: Bearish crossover suggests potential further declines.
- Stochastic RSI: Oversold conditions may precede a reversal.
Support and Resistance
- Immediate Support: $2.14 (multi-month floor).
- Key Resistance: **$2.70** (cluster of $297M short contracts).
👉 Explore XRP’s bullish breakout potential
Derivatives Market Sentiment
- Short Dominance: 76.5% of leveraged positions ($372M shorts vs. $114M longs).
- Funding Rates: Negative, raising risks of a short squeeze if prices rebound.
Liquidation Hotspots
| Price Level | Short Contracts |
|-------------|-----------------|
| $2.70 | $297M |
A breach above $2.70** could trigger liquidations, fueling a rally toward **$3.
Strategic Takeaways
- For Bulls: A confirmed breakout above $2.70 is critical to sustain upward momentum.
- For Bears: The $2.14 support breach may trigger cascading sell-offs.
- Macro Risks: U.S. Treasury yields at 4.3% dampen crypto market inflows.
FAQ
1. Why is XRP’s network activity surging despite price drops?
High transaction volumes and active addresses often precede price volatility, reflecting speculative or institutional interest.
2. What happens if XRP breaks $2.70 resistance?
A decisive close above this level could liquidate $297M in shorts, propelling prices toward **$3**.
3. How does negative funding affect XRP’s price?
It signals bearish sentiment but increases the likelihood of a short squeeze if prices rebound sharply.
👉 Stay updated on XRP’s market moves