XRP is bouncing toward $1 on rising volume after a dip to $0.89. XRP Ledger payment volume and active accounts climbed during the downturn, but the source cautions that the activity may not signal strength.
XRP is trading at $0.96 after dipping to $0.89. The move toward the $1 mark comes with a volume uptick, which could start a recovery rally.
The price fell below $1 on November 14, the first time XRP traded under that level since mid-August.
Bearish signals persist
The market is bearish, and the RSI dropped into the 20-ish zone, which the source considers extremely oversold. Moving averages are still diverging rapidly, which might further reinforce the bearish dynamic.
Even if XRP reclaims the round number, bulls might still stay sidelined. If they return, a recovery toward $1.2 is the main priority, because a lot of investors accumulated XRP at that level in the past.
Ledger activity climbs
On-chain data shows payment volume on the XRP Ledger reached around 1.1 billion XRP, up 139.9%. Active accounts rose 154.5% to 42,300. Payments volume growth is substantial, but not record-breaking.
However, the growth does not give the price enough support. A lot of the Ledger activity might be automated, driven by trading bots or sophisticated LLM models, and the market is mostly driven by speculative interest rather than fundamental network usage.
Investors who cash out or pull holdings from exchanges could be the key. Growing payments volume most likely reflects growing fear, as some investors move funds to exchanges to liquidate their coins.
That adds pressure in a bear market, with a possibility of a further downturn.
Source: U.Today
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