Crypto

XRP Ledger active accounts plunge 60 percent; market sees normalisation signal

Active accounts on the XRP Ledger (XRPL) fell sharply in a single day, dropping from about 20,000 to around 7,800, a decline of about 61 percent. While the fall could be seen as user flight or slowing adoption, the market is viewing it as a normalisation after overheated activity. Price action has already been weak, slipping below $1.3, while volume rose during the breakdown, suggesting broad position unwinding.

Crypto

XRP downtrend clear; where is the support level a veteran analyst is watching?

XRP has stepped up a downtrend after breaking below the lower boundary of a symmetrical triangle that had held for months. It traded around $1.14 on June 4, down 4 percent on the day and 14 percent over the week. Analyst Casitrades sees a third wave under way, with downside targets of $0.92 and $0.87. Derivatives data also show bearish positioning and heavy long liquidations.