XRP approaches key $2 level: metrics indicate potential for price recovery

XRP’s price decline has brought it down to $2.14, a significant drop of 5.29%. Although this raises concerns over unrealized losses among holders, bullish metrics suggest potential for recovery.

The current NVT ratio is decreasing, showing improved transaction activity, while exchange reserves have dropped by nearly 3%. Additionally, funding rates have surged over 50%, indicating bullish sentiment and trader accumulation.