Apr 9, 2025
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XRP Network Reaches 6.26 Million Addresses Amid Market Downturn
XRP has dropped below crucial support levels amid increased selling pressure related to macroeconomic uncertainty. Key observations include:
- Current trading price is $1.82, below the 200-day Exponential Moving Average (EMA) at $1.94 and Simple Moving Average (MA) at $1.85.
- Analysts consider the $1.80 mark critical; failure to hold may lead to a decline towards $1.50.
- Despite bearish trends, on-chain data indicates growth, with 6.26 million addresses holding at least 1 XRP, suggesting ongoing adoption.
- Small wallet accumulation indicates retail investor interest in XRP despite price volatility.
- Potential recovery hinges on reclaiming the $1.95 level with strong volume.
Market sentiment is cautious, with bulls under pressure while bears gain ground. Analysts are divided on XRP's future trajectory, weighing current network growth against potential price declines.
