Just 847,841,769 XRP in 24 Hours: Another Exit From Billionaire Club – U.Today

XRP has once again failed to meet the crucial daily transaction threshold of one billion tokens; the most recent 24-hour payment volume was 847,841,769 XRP. The billion-club, a psychological standard frequently linked to increased network activity and positive market sentiment, is once again being broken. In the past, a decline in market structure or decreasing investor interest has typically occurred when XRP’s on-chain payments volume falls below this threshold.

XRP’s trouble on market

From the standpoint of price action, XRP has not been doing all that well. The asset is still attempting to break through local resistances at $3.00 and $3.15, trading around $2.97 level. Although there have been a number of brief breakouts from declining trendlines, buyers have continuously been unable to maintain upward momentum. The 200-day EMA (about $2.38) serves as wider structural support, while the 50-day and 100-day EMAs are still entangled near the current price, indicating an unclear trend direction. 

This stagnation is supported by volume data, which shows that trading activity has significantly decreased since early October, indicating hesitancy on the part of both retail and institutional participants. The lack of a clear directional push and the market’s indecision are highlighted by the RSI hovering close to the neutral 50 mark. The decline in daily transactions below one billion XRP is significant for reasons other than just statistics.

XRP’s volume plunges

A softer narrative for XRP’s function as a bridge currency; fewer cross-border payments and decreased utility demand are all indicators of decreased liquidity flow throughout the network. The asset runs the risk of becoming even more detached from the core expansion of the network unless the volume of transactions rapidly recovers. Essentially, XRP is about to enter another uncomfortable stage.

Both technical and fundamental indicators point to consolidation or a slight retracement in the future as on-chain activity declines and price action stalls below crucial resistance. Restoring market confidence may depend on XRP regaining the billion XRP daily milestone; without it, the cryptocurrency’s larger bullish goals are put on hold.