TLDR
- XRP price declined 16.8% in the past 30 days, currently trading at $2.93
- Smart money wallets reduced XRP holdings by 80% over 30-day period
- XRP Ledger network activity drops with transactions down 14.8% weekly
- Technical indicators show bearish momentum with descending triangle pattern
- Futures open interest falls from $10.94 billion to $7.56 billion
XRP price has experienced downward pressure over recent weeks, with the cryptocurrency trading at $2.93 after a 16.8% decline in the past month. Despite maintaining its position as the third-largest cryptocurrency by market cap at $173.8 billion, XRP faces multiple headwinds that could drive prices lower.
The token remains 63% above its year-to-date low and 19% higher over the last three months. However, recent market dynamics suggest the current correction may continue deeper into support levels.
Smart Money Exit Pressures XRP Price
Institutional investors have reduced their XRP exposure by nearly 80% over the past 30 days, according to Nansen analytics. This smart money outflow typically precedes broader market weakness as retail investors often mirror institutional trading patterns.
Futures market data reinforces bearish sentiment among professional traders. XRP open interest declined from $10.94 billion in July to $7.56 billion currently. The long/short ratio dropped below 1.0, indicating more traders are positioned for potential price declines.
Spot market data reveals intensifying selling pressure through cumulative volume delta measurements. Since XRP reached multi-year highs above $3.66 in July, sell-side activity has dominated order books.
XRP Price Prediction
XRP price action has formed a descending triangle pattern on daily charts, with a measured target of $2.40 representing an 18% decline from current levels. The cryptocurrency has broken below both 20-day and 50-day moving averages, confirming bearish momentum.
The Relative Strength Index shows bearish divergence with price action, typically signaling uptrend weakness. Aroon indicators reinforce this view with Aroon Down at 92.86% versus Aroon Up at 7.14%.
XRP faces immediate support at $2.70, which previously held during August declines. A break below this level could accelerate selling toward $2.30, coinciding with the 23.6% Fibonacci retracement level.
Network Activity Decline Weighs on XRP
The XRP Ledger has experienced declining user engagement metrics across multiple timeframes. Daily active addresses dropped from 608,000 in March to approximately 33,000 currently, representing a substantial decrease in network utilization.
Weekly transaction volume on the XRP Ledger fell 14.8% to 12.4 million transactions. Weekly active addresses decreased 2.1% to 107,340 users. Monthly transaction counts declined 51% from 2.5 million in June to 1.25 million presently.
Lower network activity typically correlates with reduced price momentum as decreased transaction volume limits liquidity and buying pressure. With over 91% of XRP supply currently in profit, holders may continue taking gains at current price levels.
Current technical patterns and fundamental metrics suggest XRP price may face continued downward pressure toward key support zones in the near term.
