Key Insights:
- XRP trading volume declined 52% in 24 hours, falling to $1.06 billion amid quiet market conditions over the weekend.
- XRP price dropped 1.15% in 24 hours and 7.82% for the week, trading below the key $2 and 50-day moving average levels.
- Five XRP Ledger upgrades set to activate this week may affect price and network activity, including AMM and clawback features.
XRP recorded a significant decline in trading activity over the last 24 hours, with volume falling 52% to $1.06 billion. This comes amid a broader slowdown in the cryptocurrency market as traders remain cautious entering the new week. The drop in volume aligns with the wider market trend of reduced weekend activity, particularly on Sundays.
At the time of reporting, XRP has fallen 1.15% in the past 24 hours, currently priced at $1.81. Over the past week, it has declined 7.82% as selling pressure continues. Since reaching a high of $2.41 earlier this year, the token has faced steady downward movement, losing key support levels, including the $2 mark and the daily 50-day moving average.
Technical levels and market outlook
XRP has consistently closed in the red since January 6, with only two green days during that span. The loss of the $2 threshold, which coincides with the daily MA 50, signals ongoing weakness. Bulls will need to reclaim this level and hold it as support to shift sentiment. If achieved, potential upside targets include $2.18 and $2.41. On the downside, support is anticipated at $1.85.
Five amendments are scheduled to be activated on the XRP Ledger mainnet within the next 72 hours. These changes, introduced through version 3.0.0 of the ledger software, focus on improvements including automated market maker (AMM) features, token escrows, clawback functionality, and overall network efficiency. The scheduled implementation may shift market dynamics depending on community and validator response.
Market conditions remain uncertain
Analysts, including CryptoQuant’s Maartunn, note that while weekend inactivity is common, sudden volatility can still emerge. As XRP remains below key technical levels, investor focus may now shift to the upcoming protocol upgrades and their potential effect on price direction and network performance.
