🔔The price of XRP dropped to $0.4400, the lowest level since April, amid a general decline in the crypto market. Ripple is facing serious problems, which in part explains the recent decline of its token.

📉Data shows that the number of unique active addresses has decreased from 50,000 in January to 5,850 today. The number of transactions fell from 6.8 million in January to just over 1 million.

🏦Today, financial institutions have more attractive alternatives such as stablecoins. For example, ANZ Bank demonstrated how customers can use Chainlink's CCIP to transfer stablecoins issued to them.

🐋Meanwhile, XRP “whales” are dumping the token. Whale Alert data shows the whale moved $15 million worth of tokens to Bitso on Wednesday. On the same day, another whale moved $14.8 million worth of tokens to Bitstap. In total, whales sold $60 million worth of XRP tokens this week.

💬What do you think about this situation? Share your thoughts in the comments!