XRP: Massive Two Million Drop in Four Days

XRP has seen a sharp drop in transaction activity over the past four days, with payments between accounts decreasing by more than two million. This decline comes after a period of heightened activity on the XRP Ledger, which was marked by significant price increases, more active accounts, completed transactions, and XRP burned as fees earlier this month.

The recent drop in payment volume may signal a slowdown in transactions or shifts in market behavior. Earlier in November, transaction volumes spiked, likely due to increased trading and whale activity. However, this momentum has tapered off, raising concerns about whether XRP can maintain its recent gains.

The asset's trading volume has also decreased, aligning with a possible loss of buying pressure from institutional and retail participants. Indicators such as the Relative Strength Index (RSI) show XRP still in an overbought zone, suggesting the potential for a market correction. If XRP struggles to hold its $1.10 support level, the next critical price points to watch are $0.95 and $0.86.

Disclaimer: This is not financial advice. Alway do your own research before investing.