The crypto market has been highly unpredictable lately, and XRP is no exception. While its wallet activity has dropped significantly, other key indicators tell a more complex story. The broader market remains bearish, weighed down by economic uncertainty and Trump’s new tariffs. XRP has fallen to $2.06, marking an 11.9% decline over the past week and an 18.2% drop for the month.
Despite this slump, analysts have mixed opinions—some expect further losses, while others predict a major rebound.
XRP has had a rough time, slipping 0.3% today and falling 11.9% over the past week. Over the last month, it has dropped 18.2%, now sitting 39.5% below its all-time high of $3.40 from 2018.
A recent report from CoinMetrics revealed that XRP’s wallet activity has fallen by 10.77% in just a week. This is the biggest decline among major altcoins, second only to Ethereum. In comparison, Bitcoin’s wallet activity dipped only 1.16%, making XRP’s drop even more concerning.
Not all cryptocurrencies faced the same downturn. Chainlink (LINK) actually saw a 5.45% increase in wallet activity, while Cardano (ADA) remained mostly stable with a slight 0.41% rise.
XRP Transactions Are on the Rise
Even though fewer wallets are being used, XRP’s transaction count has jumped by 25.5%. This suggests that while fewer people are using XRP, those who are still engaged are making more transactions. Meanwhile, Bitcoin’s transaction count has fallen by 7%, indicating a slowdown in activity.
XRP’s futures trading volume has surged by 130%, showing that traders are still actively betting on price movements. However, open interest, which measures the total number of outstanding futures contracts, has declined by 1.42%. This suggests that while more people are trading, they may be closing their positions more quickly due to increased market volatility.
Market Cap Decline Raises Concerns
XRP’s market cap has dropped by more than 13%, signaling that some investors may be reducing their holdings. While transaction and futures trading activity remain strong, the decline in wallet activity and market cap suggests that investor confidence could be weakening.
Crypto analyst CasiTrades believes XRP will face more downside in April before rebounding to a new all-time high.
On the other hand, Ali Martinez is optimistic, pointing to a bullish TD Sequential indicator as a sign of recovery. Meanwhile, Javon Marks takes the most aggressive stance, predicting XRP could soar to $99 if it follows its 2017 rally pattern.
The Ripple vs. SEC case outcome could impact XRP’s adoption and price; a favorable ruling may boost confidence, while uncertainty keeps investors cautious.
Analysts have mixed views—some predict further dips, while others expect a rally if XRP follows its 2017 pattern or benefits from the SEC case resolution.
On the path to innovation, Apple, Google, X, Airbnb, and Uber are quietly exploring stablecoins,…
Following the news, Pi Coin has dropped around 4% in the last 24 hours, now…
As political and crypto narratives continue to intersect, the Trump family’s crypto ambitions are once…
Bitcoin price has recovered from intraday lows and surpassed the $104,000 mark after the US…
Cardano has managed to find temporary support above the $0.6 mark, a level where buyers…
Ripple recently moved over 230 million XRP, valued at around $498 million, to an unknown…
