XRP has seen a drop of 1 million transactions, sparking questions about what’s affecting the network. This decline follows a period of high activity earlier this year.
The drop may signal a cooling phase after a surge in market activity. Traders and investors could be waiting for new market movements to restart the momentum.
The decline could also be linked to a temporary decrease in demand for XRP in remittances and payments, which are key uses of the network.
XRP is trading at $3.13, staying above important moving averages. However, it faces resistance at $3.30. If XRP breaks this level, the uptrend could continue. If it fails, XRP may enter a consolidation or downward trend.
Support levels to watch are $2.80 and $2.50. These levels may hold if there is a pullback in price.
Despite the drop in network activity, XRP is not in trouble. If transaction volumes rise again, XRP could test its resistance levels and push higher.
