XRP Down 25.96% in Burn Activity Amid Critical Price Reversal
Main Idea
XRP's burn activity has decreased by 25.96%, coinciding with a price reversal and a decline in on-chain payment volume, while the market watches for potential impacts on its price performance.
Key Points
1. XRP burn activity dropped to 1,808 XRP on August 5, a 25.96% decrease from the previous day's 2,442 XRP.
2. XRP payment volume fell to 727,329 transactions, marking a two-month low in on-chain activity.
3. XRP's price experienced a reversal, reaching an intraday high of $3.1028 and a low of $2.9654, with a 2.78% decline over the last day.
4. The declining burn activity may not significantly impact XRP's price if it maintains momentum above $3.10.
5. Investors are monitoring the potential launch of an XRP ETF by the SEC.
Description
Only 1808 XRP has been torched in daily burn activity
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