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.
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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.
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