XRP Sees Decline in Payment Activity and Burn Rate: What Could This Mean for Future Trends?
Main Idea
XRP has seen a significant decline in burn rate and payment volume, reflecting bearish investor sentiment, but analysts suggest potential recovery if it maintains levels above $3.10.
Key Points
1. XRP’s burn rate has decreased by 25.96% in the last day, with transaction fees dropping from 2,442 XRP to 1,808 XRP.
2. XRP payment volume has fallen to a two-month low of 727,329 transactions.
3. XRP's price retraced to $2.97 after reaching an intraday high of $3.1028, declining by 2.78% over the last day.
4. Analysts predict a potential price recovery if XRP maintains momentum above $3.10, possibly breaking out above the $3.55–$3.65 zone.
5. The decline in burn activity and payment volume coincides with broader market uncertainty, but the potential XRP ETF launch remains a catalyst for future recovery.
Description
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