XRP Holds $1 Support as Network Activity Jumps 72% in Two Weeks
Minseung Kang
Summary
- XRP (XRP) is holding the $1 support level as network activity rebounds sharply.
- The number of daily active addresses rose 72% in two weeks, while pressure eased as leveraged positions were liquidated.
- As ETF inflows continue, market participants are watching whether XRP can climb back above $1.10.
Forecast Trend Report by Period
XRP is holding above the $1 support level as network activity rebounds sharply.
CoinDesk reported on June 30 that XRP closed slightly higher on the day while remaining above $1. The number of daily active addresses rose 72% in two weeks, increasing from 23,000 on June 14 to about 39,500 on June 27.
Leverage pressures have also eased. CoinDesk said much of the excessive leveraged positioning that had driven XRP down from its recent peak had been liquidated. ETF inflows are also continuing.
Market participants are now watching whether the improvement in network activity and the clearing of positions will help XRP climb back above $1.10.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.