XRP Ledger sees sudden drop of 400,000 payments
The XRP Ledger (XRPL) experienced a sudden drop in payment activity, losing around 400,000 transactions overnight. The reason behind this decline has not been confirmed, but it could be a result of the recent market crash or a reduction in automated or low-value transactions. This drop in network activity is considered a weak indicator, reflecting stress also seen in XRP's price chart. After falling from about $1.50 earlier this week, XRP is now trading near $1.3866, having dropped to about $1.32 on Thursday before bouncing back. The crucial long-term average near $1.38 serves as a key support level, with $1.335 as the next safety net. Resistance levels are noted at approximately $1.40 and $1.43.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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