Abdullah Al Momen656
Open Trade
Occasional Trader
2.2 Months
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XRP Just Dropped 300M Tokens in a Day — What's Really Going On?
XRP just gave us a surprise — and not the good kind. In just 24 hours, nearly 300 million tokens in on-chain payment volume disappeared. A few days back, things looked solid with over 700M in daily activity. Fast forward to May 22, and we’re sitting at just 412M. Naturally, I had to dig in.
Charts Look Great… But the Usage? Not So Much
Let’s talk technicals first. XRP broke out of a long-term downtrend and even climbed above the 200 EMA — usually a bullish sign. That’s great for the charts, but here's the catch: actual usage is falling fast. And that’s a red flag in my book.
Price Climbing, But Who’s Using It?
Sure, price is ticking upward. But without matching on-chain activity, it feels like we’re running on fumes. Could it be falling institutional interest? Fewer real-world transactions? Possibly. Either way, the gap between price and utility is growing, and that’s something I’m watching closely.
My Key Levels
If XRP can stay above $2.30–$2.35, it might have a shot at $2.60 next. But if it slips below that range, I’m eyeing a retrace toward $2.15. That’s where things could get shaky.
What the RSI Tells Me
Right now, the RSI isn’t overbought, which means there’s still room for the rally to continue. But again — without a pickup in real-world usage, I’m not fully convinced this breakout will hold.
Bottom Line
I’m seeing bullish momentum on the charts, but the drop in usage is a concern. If demand doesn’t catch up soon, this rally might not last. Let’s see if XRP can prove it’s more than just hype.
#xrp #CryptoAnalysis #AbdullahMomenWrites
Disclaimer: This article is for educational purposes only. Not financial advice.
XRP just gave us a surprise — and not the good kind. In just 24 hours, nearly 300 million tokens in on-chain payment volume disappeared. A few days back, things looked solid with over 700M in daily activity. Fast forward to May 22, and we’re sitting at just 412M. Naturally, I had to dig in.
Charts Look Great… But the Usage? Not So Much
Let’s talk technicals first. XRP broke out of a long-term downtrend and even climbed above the 200 EMA — usually a bullish sign. That’s great for the charts, but here's the catch: actual usage is falling fast. And that’s a red flag in my book.
Price Climbing, But Who’s Using It?
Sure, price is ticking upward. But without matching on-chain activity, it feels like we’re running on fumes. Could it be falling institutional interest? Fewer real-world transactions? Possibly. Either way, the gap between price and utility is growing, and that’s something I’m watching closely.
My Key Levels
If XRP can stay above $2.30–$2.35, it might have a shot at $2.60 next. But if it slips below that range, I’m eyeing a retrace toward $2.15. That’s where things could get shaky.
What the RSI Tells Me
Right now, the RSI isn’t overbought, which means there’s still room for the rally to continue. But again — without a pickup in real-world usage, I’m not fully convinced this breakout will hold.
Bottom Line
I’m seeing bullish momentum on the charts, but the drop in usage is a concern. If demand doesn’t catch up soon, this rally might not last. Let’s see if XRP can prove it’s more than just hype.
#xrp #CryptoAnalysis #AbdullahMomenWrites
Disclaimer: This article is for educational purposes only. Not financial advice.
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