XRP is under renewed pressure — and this time, on-chain data backs up the concern.

In just 24 hours, XRP’s transaction volume plummeted by nearly 300 million tokens. Earlier this week, daily volumes were over 700 million XRP. By May 22, that number dropped to just 412 million.

What happened — and what’s next?

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1. Technical Breakout… But Market Uncertainty Looms

XRP recently broke out of a long-term descending channel, climbing above the 50-day and 100-day EMAs, and even reclaiming the 200 EMA — a key signal of a trend reversal.

But while the charts look bullish, the fundamentals raise a red flag.

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2. Price vs. Utility: A Dangerous Disconnect?

Despite the surge in price, XRP’s real-world usage is falling.

Payment volume — one of XRP’s core utility metrics — is tanking. This divergence suggests that the recent pump may be driven by speculation rather than actual demand.

Earlier this month, both price and volume surged in sync. Now? They’re moving in opposite directions.

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3. The Critical Zone: $2.30–$2.35

If XRP wants to hold its bullish momentum, it must stay above the $2.30–$2.35 range. This level aligns with the 100 EMA and the previous breakout zone.

• A bounce from this support could ignite a move toward $2.60 and beyond.

• A breakdown may drag XRP to $2.15–$2.20.

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4. XRP = Altcoin Market Sentiment

As a utility-focused token, XRP often reflects broader altcoin sentiment. A decline in XRP’s transaction volume can signal reduced confidence in crypto’s real-world use cases.

When speculation outweighs usage, volatility increases — and rallies become fragile.

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5. RSI Still Has Room — But For How Long?

The Relative Strength Index (RSI) remains below overbought territory, meaning technically, XRP has space to move higher.

But without a recovery in on-chain metrics, this rally risks fading fast.

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Conclusion:

XRP’s technical breakout looks promising, but without a recovery in on-chain utility, it may not last.

Watch the $2.30 zone. Watch the volume. Watch the usage.

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