XRP Daily New Addresses Drop 80% Amid Bearish Market Trends

Coin Bureau reports a bearish outlook for XRP, which has seen a price decline of over 10% in the last month, currently trading at $2.13. On-chain data indicates declining network activity, with new wallet creations dropping from over 30,000 daily in January to below 5,000.

XRP $3 Target Challenged by Network Activity

New wallets on the XRP Ledger have decreased significantly, correlating with a downward price trend.
Daily active addresses fell from 557,000 to 34,000, indicating reduced retail interest.
The drop in engagement suggests a lack of market demand to reach the $3 resistance level.
Alternative views suggest the decline is part of normal market cycles rather than a permanent downturn.

XRP Price Outlook

XRP shows a 1.33% decline in the past day with a trading volume of $2.25 billion, up by 22.29%.
Predictions indicate consolidation around $2.12 in one month, with potential recovery to $2.45 in three months and $3.03 in six months.
The Fear & Greed Index remains neutral at 54, suggesting mixed investor sentiment.