XRP's on-chain participation has declined significantly in the past two weeks, with active addresses dropping from nearly 50,000 to approximately 25,000. AMBCrypto states that this indicates reduced network interaction, leading to increased market concerns about the strength of demand.
On-chain participation declines
The near 50% drop in active addresses indicates a significant decrease in users of the XRP network recently. The article points out that this change occurred after the June sell-off, and XRP has yet to establish a stable rebound.
NVT indicators show divergence
Unlike the weakening of active addresses, XRP's NVT ratio dropped to 199.75, a 15.29% decrease within the day. This typically indicates an improvement in trading activity relative to valuation, and a short-term rebound in network efficiency.
Net outflows from exchanges continue
Spot fund flow data shows that outflows from exchanges continue to exceed inflows. The latest statistics show inflows of approximately $39.11 million and outflows of approximately $46.76 million, resulting in a negative net flow.
Prices remain under pressure
XRP is currently trading around $1.13, having lost support at $1.30. The article mentions that resistance levels are around $1.37 and $1.50, while the $1.09 level remains a key support zone.
