Although on-chain activity just printed a spike that does not neatly fit into the bearish narrative, XRP price action appears weak and directionally unresolved. It is this divergence that is causing concern. The market continues to put pressure on XRP. The price is firmly below important moving averages in the $1.85-$1.90 range.
The 50-, 100- and 200-day averages serve as layered resistance because they are all overhead and sloping downward. Since the post-summer highs, XRP has remained structurally trapped in a declining channel. Volume has continued to decline, and each attempt at a bounce has been swiftly capped. This stagnation is reflected in momentum indicators.
The RSI is in the low 40s, indicating weak demand without complete surrender. What’s taking place on-chain is difficult to understand. Payment activity has increased significantly over the last month, according to XRP Ledger data. Nearly 900,000 transactions were made every day, which is one of the highest numbers in recent months.
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