XRP's price was expected to reach $0.46 when further gains were made.
If network traction falls, downswing may persist. XRP saw its biggest profit-generating on-chain transaction volumes since 26 May in the recent 24 hours. This was shown by transaction volume to loss.
More transactions are in loss than profit when the reading is below 1. At press, the ratio was 2.016. For every loss, two gains were obtained.
Price rise predicts profit-taking
Price performance of XRP caused the rise. Charts showed the token at $0.48 on June 28. By press time, the token had plummeted to $0.47 again.
Holders benefit from profit-taking, but the price does not. An increase in profits booked might stop a cryptocurrency's price from rising.
The picture below shows that the price plummeted practically every time the metric increased. It may be the same this time. If so, the cryptocurrency may tumble below $0.46 in a few days.
AMBCrypto also analyzed MVRV. The indicator also measures holders' profitability. It also assists spot price accumulation and distribution.
XRP had a -5.45% 30-day ratio at press time. A negative ratio usually implies the average XRP holding loses. Thus, if all holders sell, the average return is -5.45%.
The downturn continues. Good purchasing chances have occurred between -8.59% and -18.63%. Thus, the token price may fall before recovering.
The $0.46 forecast appears likely. However, a larger cryptocurrency surge might invalidate it. The coin might return to $0.48 if this happens.
XRP might reach $0.50 in a bullish situation.
We examined the project's Network Growth. As its name indicates, Network Growth monitors network traction. Also measures token adoption. Network Growth rises when new addresses make their first transaction.
The statistic drops when fresh addresses are few. At the time of writing, this statistic has fallen, suggesting low token use.
Short-term aims are $0.46–$0.48. The altcoin may not reach $0.50 unless something terrible occurs.
