Crypto
XRP's Price Struggle Contrasts with Growing Network Activity
XRP's price has been under pressure, but network activity and wallet data suggest a different story. On August 12, XRP briefly dropped to $0.99, its lowest point since November 2024, before buyers reclaimed the level.
The price remains below key moving averages: the 50-day SMA at $1.08, the 100-day SMA at $1.18, and the 200-day SMA at $1.30.
However, whale wallets holding at least 1 million XRP have increased by 32 over the past three months to reach 2,038, while market capitalization fell roughly 29% over the same period.