While XRP remains under pressure just above the critical $1 support, the revival in network data and improvement in investor sentiment indicate renewed interest in the market. The recent squeeze in the price between $1.00 and $1.05 is considered by some investors as an accumulation zone.
Network activity accelerates as price pressure continues
XRP traded at $1.05, up 1.74% in the last 24 hours. In the same period, 24-hour trading volume was recorded as $1.6 billion and market value was $65.42 billion. However, the price still displays a weak outlook in the short term.
According to Santiment data, XRP has stabilized around $1.04 after hitting a 19-month low of $1.01. Santiment is known as an analysis platform that tracks on-chain data and market behavior.
4,941 new wallets were created on XRP Ledger in a single day, marking the strongest growth the network has seen in more than three months.
The opening of 4,941 new wallets on the same day stood out as the strongest growth in the XRP Ledger network in more than three months. It is not yet clear whether this increase will directly translate into purchasing pressure.
A more positive picture is also seen in social data. For every 1 bearish reaction in investor sentiment, there were 3.7 bullish reactions. This rate is among the highest levels in the last three months.
| Indicator | Level |
|---|---|
| current price | $1.05 |
| intraday bottom | $1.01 |
| Support range | $1.00 to $1.05 |
| 24 hour volume | $1.6 billion |
Analysts are eyeing the $1.51 level
Crypto analyst Crypto Spaces notes that XRP price is fluctuating above the downward support line and remains below the 200-day moving average. This outlook shows that sellers maintain their influence on the market.
Mini dictionary: The 200-day moving average is a technical indicator that shows the average price of an asset over the last 200 days. It is frequently used to monitor the long-term trend in the market; When the price remains below this, a weak outlook may come to the fore.
If the current support can be maintained, a reaction rise may be seen in the XRP price and the $1.51 level may be watched as the next important resistance point of this movement.
It is evaluated that if this support is maintained, XRP may attempt to recover in the short term, and the first important target may be the $1.51 resistance. Conversely, breaking the downward support line could increase selling pressure and further strengthen the downtrend.
The general atmosphere in the market also affects this picture. While sentiment in crypto assets is gradually improving with the rise in Bitcoin, it is stated that network growth and technical outlook in XRP should be monitored together.
