đ Hereâs What Is Holding XRP Price Down: It Is Not What You Think
While many blame regulatory uncertainty or profit-taking for XRP's recent slump, the real culprits are less obvious. Hereâs whatâs really keeping XRP under pressure:
đ Declining On-Chain Activity : The number of active addresses on the XRP Ledger has plummeted to ~19,250 from 50,000 in mid-July. This signals reduced network engagement and a lack of new investor interest .
đš Risk-Off Sentiment : The Crypto Fear & Greed Index has dropped to 46 ("Fear"), reflecting broader market caution. This has led to diminished speculative demand for XRP .
đ» Futures Market Weakness : Open Interest (OI) for XRP futures has fallen from $10.94B to $7.7B, indicating declining trader confidence and a lack of bullish leverage .
â ïž Technical Breakdown Threats : XRP is testing critical support at $2.70. A break below this level could trigger a downward spiral toward $2.08, as per the descending triangle pattern on the daily chart .
đž Whale Selling Pressure : Large holders are likely taking profits after Julyâs multi-year high of $3.66, creating sustained selling pressure that retail buyers canât absorb .
While macro factors play a role, these underlying issues are the hidden anchors on XRPâs price. Until on-chain activity and futures market interest rebound, upside may remain limited.