Looking back, just a few days ago, CryptoPotato cited several indicators published by a well-known analyst, stating that the price of Ripple (XRP) could fall. At that time, the asset had already dropped 20% from its historical high in mid-July and struggled to maintain above $2.8.

It had lost the critical $3 support level, whales were selling off in large volumes, the MVRV indicator had formed a death cross, and the TD sequence indicator had also issued a sell signal. Therefore, the overall expectation was that if this support level was breached, the price would pull back to $2.4 or even lower.

However, that was not the case. On the contrary, XRP stabilized around $2.8 within a few days and had climbed to $3 by Thursday. Santiment attributed this 'silent' price recovery to an explosive growth in network activity.