Ripple $2.29The transaction volume in the XRP Ledger has increased concerns about the use and health of the network with a 90 percent drop compared to its recent summit. Although the XRP price is resistant to $ 2,30 – $ 2.40, the almost zero of payment and transaction volumes indicates that speculative interest prevents real use. Experts behind this decline, regulatory uncertainties, bitcoin 
$107,078.29He emphasizes that there are factors such as market domination and weakness in institutional demand.
Causes of collapse in XRP Ledger activity
In the last three months Xrp ledger The number of operations on it fell steadily. According to the data, especially since April, the number of active accounts and coin transfers have decreased harshly. Analysts attribute this situation to a few main reasons.
The first of these is the ongoing uncertainties in the USA, especially Ripple Labs The prolongation of the case between the SEC and SEC Weakens the interest of corporate investors to XRP. As a result of all this, banks and payment systems are cautious about using XRP as “bridge money ..
The second is the rise of Bitcoin Altcoin marketliquidity from n. The largest crypto currency renewing the record and continuing on the way to investors shifts the risk appetite to this side. This leads to the weakening of Altcoins such as XRP in technical indicators.
XRP price analysis and prominent levels
XRP’s price movements point to a technically critical threshold. Testing $ 2.50 at the beginning of May altcoin In recent weeks, it has been stuck in the $ 2.30 – $ 2.40 band. This December is 100 days old Exponential moving average (EMA) overlaps with and the scene of a resistance-support struggle.
The price graph shows that the $ 2.20 level (200 -day EMA) is a significant psychological support. In case of a permanent breakage below this level, the price has a risk of decreasing up to $ 2.05. Relative power index (RSI) It is seen that the momentum is approaching the neutral area while watching around 54. However, the decline in the transaction volume is interpreted as a signal that sellers can seize control.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
