Although not a guaranteed warning sign, the sharp decline in active addresses may mean that fewer people are using XRP to send or receive funds, and more are just holding.
Technical aspects of XRP suggest a 25% drop
The weekly chart of XRP shows the price consolidating within a descending wedge pattern.$XRP
On May 26, the cryptocurrency showed signs of entering a short-term correction cycle after failing to break above the upper trendline of the wedge.
A broader pullback could push the price of XRP towards the lower trendline of the wedge, if recent price action serves as an indication.
The lower trendline is aligned with the 50-week exponential moving average (50-week EMA; red line), close to $1.76, about 25% below current levels.
