XRP Network Activity: From Explosion to Sustainable Growth.
Recent activity on the XRP Ledger indicates an exciting transition from explosive growth to healthy consolidation. After experiencing a significant 400% increase in transaction count and trading volume in November, the network is now stabilizing at a more sustainable pace.
Key points to note:
- Daily transaction volume has stabilized in the range of 600,000-900,000, significantly higher than the baseline in early November.
- The price is currently testing the resistance cluster $2.10-$2.12 where the center line of the channel and the 50-day MA converge.
- Recent 4-hour chart data shows XRP trading in the range of $2.01-$2.12, with moderate volatility.
Looking ahead, XRP faces a crucial decision point: breaking above $2.15 towards a potential target of $2.20-$2.25, or pulling back to support around $2.00. With the cooling off of the network frenzy, price volatility now relies more on actual market demand rather than on-chain indicators.
What do you think about the consolidation phase of XRP? Would you like to explore trading strategies for this scenario?
Content is for informational and discussion purposes only, not investment advice.