- XRP trades at $2.09, down 18.41% this month but still above key support levels.
- Active addresses fell 80% since December; futures open interest is down nearly 70%.
- Ripple’s coin exchange reserves hit lows last seen in July 2023, hinting at long-term investor confidence.
XRP maintains resilience despite weakening activity across both on-chain and derivatives markets. Once reaching peaks above $3.40 in early 2025, it now trades at $2.09, reflecting an 18.41% decline over the past month. Nevertheless, the price has not witnessed a full breakdown, even as investor engagement continues to shrink and broader market momentum cools.
According to data shared by CryptoQuant contributor EgyHash, activity on the XRP Ledger has experienced a sharp contraction. Active addresses have dropped nearly 80% since December. Meanwhile, interest in XRP futures has mirrored this downtrend, with open interest decreasing approximately 70% from previous highs.
Additionally, funding rates occasionally slipped into negative territory, indicating a growing preference among traders for defensive positioning. Leverage metrics support this cautious shift. The Estimated Leverage Ratio, which tracks the relationship between borrowed capital and coin reserves, has declined notably, reflecting reduced risk appetite among market participants.
In contrast to the broader trend, its price correction has remained relatively moderate. While Ethereum faced a drop of nearly 60% from its recent peak, XRP has registered a decline of just 35%, signaling a more controlled retreat. This divergence suggests that despite eroding speculative interest, Ripple’s coin retains a level of structural support that continues to buffer sharp downside moves.
XRP Exchange Reserves Drop to 2023 Lows
Exchange Reserves for XRP have also decreased steadily, now hitting levels not seen since July 2023. Fewer tokens on exchanges means there’s less available to sell quickly, helping to support prices during weak phases. EgyHash believes this setup, paired with stable pricing, hints at strong long-term confidence.
While some metrics signal weakness, other signs point to potential strength. Market analyst Dr. Cat recently highlighted a bullish chart structure on the weekly timeframe. He noted that the Ichimoku Cloud pattern, a technical chart indicator, remains positive. The crypto continues to hold above the Kijun Sen line at $2.07, indicating the asset has maintained a strong support zone.
More notably, a bullish crossover is visible. The Tenkan Sen sits above the Kijun Sen, suggesting short-term buying power is still intact. At the same time, the Chikou Span remains above prices from 26 weeks ago—another bullish sign. Even the future cloud projection, with a thick upward slope into May, suggests that the trend is not weakening.
XRP Bulls Eye $4.50 Target
Volume during consolidation periods has remained consistent. Dr. Cat emphasized that candles continue to show buyers defending the $2.03 to $2.06 range. This hints at accumulation, a sign that traders are positioning for a potential breakout.
Unlike other altcoins like Ethereum, which are slipping into bearish zones, XRP still holds the technical upper hand. He believes that XRP remains in a position to make a serious move toward its all-time highs.
“$XRP bulls still have full control,” he noted.
If the price can stay above the key support lines and maintain the bullish cloud structure, Ripple’s token could surge to $4.50 in the near term. That’s a 115.31% potential upside from current levels.
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