Even though there has been a discernible decline in on-chain activity, XRP is demonstrating resilience as the price remains stable above important moving averages. XRP has slightly decreased by 0.43% over the past day, and it is currently trading at $2.43. Though it still respects the support structure based on the 50 and 100 EMA levels at $2.39 and $2.31, respectively, the asset remains inside the bounds of a descending channel for the time being.
The XRP Ledger's dramatic drop in the quantity of successful transactions, however, is currently attracting attention. Recent statistics show that within a day, transactions fell from a local peak of roughly 2.6 million to 1.9 million. This drop of more than 70% in the number of successful transactions is one of the most severe short-term contractions in recent memory.
XRP/USDT Chart by TradingView
The background of XRP presents a more complex picture, even though such a decline would normally be seen as an indication of cooling network activity or a slowdown in demand. Despite the decline, the price has not broken down, suggesting that users may be preparing for higher-value transactions or consolidating rather than completely leaving the network.
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Mon, 03/24/2025 - 15:07 XRP Price Prediction for March 24
Denys Serhiichuk
With a slight bullish bias, the Relative Strength Index (RSI) is in the neutral momentum range of 51 to 73. The price is still compressing toward the upper limit of the descending trendline, which is a technical setup that could result in a significant breakout above $2.60 if it is broken. Because the volume is steady but not high, it suggests that the market is awaiting confirmation before making a more significant move.
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Mon, 03/24/2025 - 14:58 $2.98 Billion XRP in 24 Hours as XRP Marks 71% Volume Surge
Tomiwabold Olajide
The bias is still cautiously bullish because XRP has held up during this transaction volume contraction and has maintained structure above the 50 EMA. In conclusion, a decline to 672,000 successful transactions does not yet imply a breakdown, but it does indicate a possible cooldown.
The RSI positioning price stability and persistent support levels of XRP all point to accumulation rather than exiting. In the coming days, XRP will be a closely watched asset, as a breakout is still possible if momentum picks back up.
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