XRP fell below $ 2, down 17% in last week. However, despite the downward trend, data on the chain indicate an increase in network activity, which raises questions about the underlying feeling of the market.
With an ongoing final decision on the RIPPLE trial expected a month later, on April 16, the XRP community could cling despite the macroeconomic slowdown.
XRP active addresses tripled in two weeks
According to data on the Glassnod chain, from February 21 to March 10, the number of active XRP is addressed more than tripled.
On February 21, XRP had 89,606 active addresses, but on March 2, this figure increased to around 543,000.
Although there was a minor drop, active addresses rebounded at 531,000 on March 7. On March 10, XRP still maintains more than 370,000 active addresses – more above its previous levels.
At the same time, Binance XRP exchange outings have decreased considerably. On March 7, more than $ 465 million in XRP left Binance, marking the highest daily flow in a month.
However, in the past three days, outings have decreased sharply, suggesting a slowdown in large -scale withdrawal of the exchange.
The divergence between price action and network activity raises key questions about the feeling of the market.
An increase in active addresses generally indicates an increased commitment from users, suggesting growing demand or an increase in the volume of transactions.
However, the drop in binance outputs can report reduced accumulation pressure or hesitation among investors to eliminate assets from centralized platforms. This is often interpreted as an uncertainty about the price direction.
Some analysts argue that the drop in XRP prices, despite the resilient participation of the network, could indicate the short -term speculative trade rather than a fundamental weakness.
Meanwhile, the drop in exchange outlets may indicate that traders keep their assets rather than get out.
However, without a corresponding price rally, it suggests a balance where neither buyers nor sellers have a decisive advantage.
Although the data reveals a strong activity on the large XRP book, the market remains in flow.
It remains to be seen this commitment increased by a future recovery of prices or continuous consolidation.
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