Despite a broader market downturn, XRP’s price moved back toward the $1 level, trading at $0.96 after a brief dip to $0.89. The $1 threshold, which has acted as a psychological support level, was breached on November 14, marking the first time the token fell below $1 since mid‑August.
Technical indicators show the market remains bearish, with the Relative Strength Index in the low‑20s, indicating an oversold condition, and moving averages diverging further.
On‑chain activity on the XRP Ledger
On‑chain data reported a notable increase in activity on the XRP Ledger. Payment volume reached approximately 1.1 billion XRP, up 139.9% from previous levels, while the number of active accounts rose 154.5% to 42,300.
Although the growth in payment volume is significant, it is not described as a record‑breaking level. Analysts suggest that much of the activity may be automated, driven by trading bots or advanced language models, rather than reflecting fundamental usage.
Market implications
The rise in ledger activity coincides with heightened speculative interest and potential investor anxiety, as some participants may be moving funds to exchanges for liquidation. While the increased volume could support a short‑term price recovery, the overall bearish pressure in the market remains strong, leaving the outlook uncertain.
