XRP Transactions Plummet 44% Amid Price Slump Near $1

XRP Ledger transactions plummeted by 44% in just five days, according to Pluang. The sudden drop from 2.81 million on August 5 to 1.57 million on August 9 indicates a slowdown in network activity as XRP trades near $1.

This decline follows a brief surge in transactions and coincides with XRP's price dropping from around $1.06 to $1.02. Analysts highlight the $1.06 resistance level as key, with a monthly close above it potentially boosting XRP toward $1.35 and $1.64.

Despite a slight price gain recently, XRP remains under technical pressure below key moving averages, signaling cautious market sentiment.