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Title: XRP Loses 65% in Transaction Volume: What Happened?
U.Today has recently reported a sharp decline in transaction volume on the XRP Ledger. The data shows a staggering 65% drop, which raises concerns about the long-term prospects of Ripple’s flagship cryptocurrency.
According to our analysis, this significant decrease in activity is a worrying sign for the future of XRP. As the chart below illustrates, the sudden drop in transaction volume indicates that fewer people and organizations are using the XRP Ledger for value transfers and cross-border settlements.
This decline directly challenges the long-term bullish thesis for XRP, as it suggests a weakening demand for its utility. The bearish implications of this data are significant, as they undermine the fundamental argument supporting XRP’s growth potential.
As a result, we expect the price to potentially drop below the 200 EMA, further solidifying the downward trend. This scenario would be particularly concerning if sentiment turns bearish and momentum indicators fail to show any divergence in support of the current decline.
In light of this information, we have downgraded our previous recommendation for XRP, citing the sharp decline in transaction volume as a major red flag. Our analysis suggests that further declines may be on the horizon unless strong buying pressure materializes quickly.
The sharp drop in activity raises questions about the project’s overall strategy and its ability to adapt to changing market conditions.
Source: https://u.today/xrp-loses-65-in-transaction-volume-what-happened
