XRP Price Prediction: Onchain Activity Flashes Danger – Big Drop Possible?

The XRP price has fallen by 1% in the past 24 hours, with its drop to $2.30 coming as the crypto market falls by 2.5% today.

XRP is now down by 2% in a week and by 12% in the past fortnight, although the fourth-biggest coin in the market keeps an impressive 330% increase in the last 12 months.

The token’s moves over the past few weeks have followed a sharp decline in active XRP Ledger addresses, indicating a pronounced decline in interest among traders.

Yet this isn’t likely to continue for much longer, with the approach of XRP ETFs later in the year signalling very good things for the long-term XRP price prediction.

XRP Price Prediction: Onchain Activity Flashes Danger – Big Drop Possible?

If we look at CryptoQuant’s active addresses chart for XRP, we see that addresses have declined from a peak of 108,000 on December 2 to a six-month low of 23,000 today.

This is an 80% decline, which is far in excess of the 30.5% drop in price XRP has suffered since the coin reached a seven-year high of $3.31 on January 18.

This arguably signals a big drop in interest, yet one positive is that active addresses are still higher now than they were for much of the two-year period prior to the Trump rally beginning in November 2024.

As such, it would be rash to assume that this decline predicts a big incoming drop in the XRP price, especially when inactive addresses can indicate longer term holding.

But if we look at the XRP chart today, we see that its indicators have been weakening over the past couple of days, signalling more losses (although not necessarily steep losses) in the near term.

Its RSI (purple) has dropped from 70 in early May to just under 50 today, and it could continue to fall over the next few days.

Based on such factors, it would be reasonable to predict that the XRP price could drop back to $2.20 or a bit lower this week or the next.

But XRP’s strong fundamentals would point to a fairly quick rebound, potentially to $2.50 or higher by the end of July.

And in the longer term, the approval of as many as 10 XRP ETFs could be the catalyst for a massive price increase towards the end of the year, potentially to $4.00.

New Presale Tokens Could Rally Soon

As strong as XRP remains, one way of boosting your exposure to potential gains is to diversify into smaller tokens, which during their initial growth spurts can vastly outpace the market.

This would include presale tokens, with the biggest sales sometimes leading to big rallies when the corresponding tokens list for the first time.

The biggest presale happening right now belongs to Solaxy (SOLX), a Solana-based token that has now raised a whopping $41.5 million in its offering.

This is an impressive sum, with Solaxy also boasting an X account with 77,000 followers, another early sign of its potential future popularity.

And what’s giving Solaxy so much potential is the fact that it’s launching a layer-two network for Solana, one which promises to make the Solana ecosystem more efficient for traders.

Its L2 will provide ultra-low transaction fees and confirmation times, while also enabling instant bridging between itself and Solana.

The project is also in the process of developing its own DEX, with Solaxy aiming to become an important hub for meme tokens and DeFi.

And given that SOLX will be necessary to pay Solaxy’s transaction fees, the token could become very sought-after very soon.

Solaxy’s presale will end in 19 days, but you can still join it by going to its official website.

SOLX is selling at its final presale price of $0.001738, and will list soon after the sale ends.

The post XRP Price Prediction: Onchain Activity Flashes Danger – Big Drop Possible? appeared first on Cryptonews.

Credit: Source link