XRP Loses 50% in Key Metric: Rally Getting Cancelled?

Key Points

1. XRP's price has risen above $2.95, gaining almost 50% in recent weeks.

2. Active network addresses have dropped by more than 50% from their June peak, indicating a discrepancy between price and user activity.

3. The RSI is well above 84, signaling overbought conditions, which historically precede violent price reversals for XRP.

4. Strong momentum is confirmed by expanding trading volume, but the decline in active addresses raises concerns about sustainability.

5. The article suggests that the rally could be at risk if user engagement does not recover soon.