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Crypto

XRP rally could stall at $2.22 sell wall

XRP is trying to regain the $1 level, but an overhang of supply from mid-term holders who bought around $2 could act as strong resistance, an analysis said. On-chain data showed the average realised price for investors who bought 6 to 12 months ago was about $2.22, well above the current price. Derivatives funding rates were mixed by exchange, while futures volume continued to dwarf spot trading. Key near-term levels were cited at $1.11 and $1.36.

Crypto

Evernorth steps up Japan push as XRP faces institutional adoption test

Treasury firm Evernorth is stepping into Japan as it accelerates an XRP-based treasury strategy. It opened a Japan-focused X account and began local communication, saying Japan was an early supporter of XRP. The company said it will analyse market moves from its own perspective but will not discuss price. Evernorth is seeking more than $1 billion and plans a Nasdaq listing under the ticker XRPN, with SBI Holdings joining as a $200 million anchor investor.

Crypto

XRP Ledger payment volume plunges 95 percent, raising worries over slower network demand

XRP Ledger payment volume fell to near zero over the past 24 hours, raising concerns about weakening network demand and usage. U.Today reported that the amount of XRP moved between accounts dropped from more than 1.3 billion XRP earlier this month to 40.5 million XRP on July 12. The metric reflects actual value transferred on the network rather than speculative exchange trading. The report noted payment volume can swing sharply due to a few large transfers and may rebound quickly.