XRP Holds Support Amid Declining On-Chain Activity and Mixed Demand Signals

Ripple (XRP) is currently trading above $1.50, with bulls struggling to maintain upward momentum. The price has been moving sideways between support at $1.45 and resistance at $1.60, but remains supported by key moving averages and momentum indicators.

The XRP Ledger (XRPL) is experiencing a decline in user engagement, with active addresses dropping to around 15,000, down 50% from the six-month peak of 30,000 reached on September 25. This suggests a normalization of network activity after recent spikes. Additionally, while the cumulative XRP account count is rising, daily active users are falling, indicating a divergence between address creation and actual usage.

Despite 12 consecutive weeks of positive inflows into US-listed spot Exchange-Traded Funds (ETFs) totaling $1.8 billion, this has not translated into a sustained bullish trend for XRP. The perpetual futures Open Interest (OI) holds at 2.26 billion XRP, showing minimal change, which suggests a steady derivatives market without strong momentum for a breakout above $1.60.

Technically, XRP holds a bullish near-term bias, trading well above the 50-day Exponential Moving Average (EMA) at $1.40 and the 200-day EMA at $1.38. Immediate support lies at the 50-day EMA near $1.40, with further support at the 100-day EMA at $1.33 and the SuperTrend level at $1.30. The Relative Strength Index (RSI) stands at 58, indicating constructive but not overbought conditions, while the Moving Average Convergence Divergence (MACD) hints at waning upside pressure.