According to Cointelegraph, XRP's daily active addresses and new addresses have decreased, indicating reduced network activity and weakened demand. XRP's open contracts have decreased by 30% within a month.
XRP price has consolidated in the range of $2.05-$2.33 over the past 30 days, failing to break through $3.00. The decline in network activity on the XRP Ledger, reduced open contracts, and weak technicals are the reasons.
Glassnode data shows that network activity on the XRP Ledger has significantly decreased over the past six months. The number of new addresses is far below the peak of January 16, 2025, with only 3,500 new addresses.
CoinGlass data shows that XRP open contracts have decreased by 30% to $389 million, indicating that investors expect a price decline. Historically, a significant drop in open contracts usually signals a price drop.
XRP price is facing resistance in the range of $2.22-$2.40, and if it fails to break through, it may continue to consolidate for weeks. Analysts point out that if it loses the support at $2.00, it could drop to $1.20.
