XRP Drops 13% In 7 Days: What Is Going On?

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

XRP active addresses up 490% since the 2022 low, significantly outpacing Bitcoin’s 10% growth.
Trader Ali Martinez sees a potential rebound, as the TD Sequential indicator flashes a buy signal.
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XRP XRP/USD is down 13% in a week but retail demand surging and active addresses hitting new highs may signal a reversal in the medium term.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
XRP XRP/USD	$2.03	$118.4 billion	-3.7%	-12.9%
Dogecoin DOGE/USD	$0.1602	$23.8 billion	-6.3%	-17.3%
Shiba Inu SHIB/USD	$0.00001210	$7.1 billion	-1.5%	-14.9%

Trader Notes: Ali Martinez says XRP is setting up for a rebound, pointing to the TD Sequential buy signal as a sign of a potential reversal.

Statistics: Glassnode data noted that since the 2022 cycle low, XRP active addresses have spiked by 490%, compared to only 10% for Bitcoin addresses, signaling retail demand.

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Whale Alert data shows 500 million XRP, worth $1.02 billion, unlocked from an escrow account at Ripple. Meanwhile, two other unlocks were noted of 300 million and 200 million XRP at two unknown wallets.

Coinglass data shows XRP derivatives volume expanding by 63.7% in a single day, while open interest remains relatively flat at $3.6 billion.

Liquidations in the past 24 hours stands at $19.3 million with $12.8 million in long liquidations.

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