Following the development of XRP over the past three days, Ripple investors might want to reconsider their investments

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Last Updated on July 24, 2022 by Bitfinsider

The XRP token’s on-chain performance over the past several days has revealed a continuous decline in buy and sell bids for the top altcoin. Santiment data shows that the volume of unique addresses transacting the XRP coin increased significantly on July 20. Similar to this, a sizable number of previously dormant tokens moved addresses on the same day as the token’s age consumed reached a record-breaking high of 854.32 billion. Since December 2020, this level was the metric’s highest ever.

Analysis on the Price Performance of XRP

The price of XRP has been on an upward trend since July 12. But on July 20, it broke free of a rising wedge, which was followed by a drop in the token’s price. On that day, the token traded for $0.37 per XRP. The XRP price has dropped by 2% over the last three days despite its bearish activities. The token was trading for $0.3615 at the time of writing.

On a daily chart, interestingly, investor interest seemed to have persisted despite the token’s pessimistic outlook. At the time of publication, the Relative Strength Index (RSI) for XRP was shown climbing at 55.66. The token’s Money Flow Index (MFI), which measures buying interest, was uptrending at the time of writing as well.

Further Analysis on XRP

The index for the daily active addresses that traded XRP coins increased by more than 500% on July 20 to 158,740 unique addresses. This reached a peak of 169,560 addresses on July 21. Currently at 8110 addresses, this statistic has decreased by 95% over the last two days.

Additionally, the quantity of new addresses generated on the XRP network has gradually decreased over the past three days. At the time of publication, there were 1461 addresses, a 13 percent reduction during the three days under consideration.

Additionally, due to the decline in trading activity since July 20, the total number of XRP tokens traded over the course of the last three days fell from 3.07 billion to 167.88 million. In US dollars, this represented a decrease over the three days under examination from $1.14 billion to $60.43 million.

Still at odds with the Securities and Exchange Commission, Ripple, owners of the XRP token, received the regulator’s motion to revoke the amici status granted to XRP holders on July 20. The regulator also sought to bar John Deaton, the XRP holders’ representative, from further involvement in the lawsuit.


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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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