XRP: Almost 0 In 24 Hours in Fundamental Metric
Main Idea
XRP's on-chain metrics show a significant decline, indicating a lack of investor conviction, while its price struggles to maintain key levels.
Key Points
1. Only 1,741 new wallets were activated on the XRP Ledger as of Aug. 5, signaling weak new demand.
2. XRP's price is barely holding above the 21 EMA, with the RSI suggesting limited upside momentum.
3. A retest of the $2.80 support zone is likely if market sentiment continues to weaken, though the price may stabilize between $2.95 and $3.10.
Description
XRP's on-chain metrics are rapidly descending, suggesting lack of conviction among top traders
$XRP
$2.9404
-3.61%
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