bullish

Major

Drops

Read

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/xrp-price-prediction-for-december-14" rel="noopener noreferrer nofollow">XRP's</a> payment volume has drastically decreased, dropping by about 97% from its Dec. 2 peak of 3.7 billion XRP to much lower levels in recent days. The current sentiment and market dynamics surrounding XRP are called into question by this decline in transaction <a href="https://xrpscan.com/metrics" rel="noopener noreferrer nofollow">activity</a>.
When these important indicators fall precipitously, it frequently indicates that the asset's recent bullish momentum is about to cool. The provided <a href="https://u.today/xrp-price-on-verge-of-major-milestone-is-3-imminent" rel="noopener noreferrer nofollow">XRP</a> price chart illustrates this slowdown with a descending triangle formation and a consolidation pattern. This raises doubts as investors determine whether XRP can continue on its current upward trajectory or if a reversal is imminent. <img src="https://u.today/sites/default/files/inline-images/image_1547.png" data-entity-uuid="e6476be1-d970-4515-881e-4df13a59cd0e" data-entity-type="file" alt="XRPUSDT" data-caption="<a href=&quot;https://www.tradingview.com/&quot;>XRP/USDT Chart by TradingView</a>">
At the moment, the closest dynamic support is the 26 EMA, which XRP is consolidating above. Despite testing this EMA remains stable and stops substantial downside movement. With a target of $2.60 or above, a breakout above the descending channel might reignite bullish momentum. On the other hand, <a href="https://u.today/ripple-stuns-market-with-mysterious-60000000-xrp-move-as-price-10-up" rel="noopener noreferrer nofollow">XRP</a> may retest the $2.00 level if sellers take control and drive the price below the triangle's lower support. A breakdown at this stage would indicate additional weakness and might push the price to $1.37, the next significant support.
The following factors may be responsible for the precipitous drop in payment volume. Traders most likely took advantage of the sharp increase in XRP, which decreased on-chain transaction activity. With many assets consolidating or retracing after strong runs, the sentiment in the broader cryptocurrency markets is mixed. Speculation by investors rather than natural growth may have caused XRP's price spike, which in turn may have decreased utility-based transactions. <a href="https://u.today/major-xrp-metric-drops-by-97" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Major XRP Metric Drops by 97%

U_Today

Other articles published on Dec 15, 2024

SEI/BTC Consolidates as 800 Sats Resistance Holds the Key to a Bullish Breakout

4 Best Meme Coins to Buy and Hold for Long Term Wealth-Building in Crypto!

Drake’s X Account Hacked to Promote Fraudulent Solana Memecoin

Crypto Industry Witnesses Major Fundraising Surge as Avalanche Leads With $250 Million

Ethereum Price Prediction: Rally Expected Amid High Network Growth?

The Top 6 Crypto Staking Platforms in 2025: Your Path to Financial Freedom

Join our free newsletter for daily crypto updates!