XRP is currently approaching a key resistance level of 3.66 USD, following a notable price rally of over 60%, bringing it to around 3.56 USD. Despite bullish signals, concerns over potential exhaustion of momentum are evident.
High whale activity, involving the transfer of 210.6 million XRP, indicates possible speculation but has raised questions about distribution. The derivatives market for XRP is also experiencing a significant increase in trading volumes.
Recent metrics show a decline in XRP’s transaction volumes and new addresses, suggesting weakening fundamentals. The NVT ratio has dropped 31.53%, indicating potential valuation issues that might affect XRP’s rally sustainability.
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