XRP At Risk Of A Drop To $0.80? Analyst Makes The Case

A cryptocurrency analyst has explained how XRP could be at risk of a drop toward $0.80 based on the data of some on-chain indicators. XRP Has Seen Bearish Developments In On-Chain Data In a new thread on X, analyst Ali Martinez has talked about why XRP may be at risk of seeing a decline to the $0.80 level. “First, network activity has cooled sharply,” noted Martinez. There are many ways to gauge network activity, but the analyst has used the Active Addresses on-chain indicator. Related Reading: Bitcoin Coinbase Premium At Rare Discount As US Demand Weakens This metric keeps track of the total number of addresses that are taking part in some kind of transaction activity on the blockchain every day. A chart shared by the analyst earlier showed a drawdown in this metric for XRP. Generally, a decline in the metric is a sign of a drop in interest around the asset. “Daily active addresses have fallen to roughly 38,500, pointing to fading participation and interest,” s