XRP Faces Potential Drop to $0.80 Amid Bearish On-Chain Indicators

XRP may face a potential decline towards $0.80 based on recent on-chain data.

Key Points

Network Activity: XRP's daily active addresses have dropped to approximately 38,500, indicating decreased interest.
Whale Movement: Large investors recently sold about 40 million XRP tokens, suggesting weaker confidence in the asset.
UTXO Realized Price Distribution (URPD): A significant supply of XRP was last purchased at $1.77. If this level is tested, investor reactions could impact price movements.
Support Levels: If current support at $1.77 fails, a decline to the next major support zone near $0.80 is possible.

As of now, XRP trades around $1.86, stable compared to the previous week.