On-chain participation for XRP has significantly declined over the past two weeks, with active addresses dropping from nearly 50,000 to approximately 25,000. AMBCrypto noted that this indicates reduced network activity, heightening concerns about demand strength in the market.
On-chain engagement has declined
The decline in active addresses has approached half, indicating a significant reduction in users recently utilizing the XRP network. The article notes that this change occurred following the June sell-off, and XRP has yet to establish a stable rebound.
The NVT indicator has diverged.
Unlike weak active addresses, XRP’s NVT ratio has dropped to 199.75, declining 15.29% intraday. This typically indicates improved transaction activity relative to valuation and a short-term rebound in network efficiency.
The exchange net outflow continues.
Spot fund flow data shows that outflows from exchanges continue to exceed inflows. In the latest statistics, inflows amounted to approximately $39.11 million, while outflows reached approximately $46.76 million, resulting in a still-negative net flow.
Prices remain under pressure
XRP is currently trading around $1.13, having lost support at $1.30. The article notes that resistance levels are near $1.37 and $1.50, while $1.09 remains a key support level.