= In recent days, the performance on the chain of the XRP token has told a story of a steady decline in buy and sell bids for the leading altcoin. According to data from HolinessOn July 20, there was a significant spike in the number of unique addresses transacting with the XRP token. Similarly, on the same day, a significant number of previously dormant tokens changed addresses as the token’s consumed age soared to a massive high of 854.32 billion. This represented the highest level the stat has marked since December 2020.

How exactly has the currency fared since July 20?

Price performance analysis

Since July 12, the price of the XRP has started an uptrend. However, on July 20, it broke out of a rising wedge, which was followed by a drop in the price of the token. The token traded at $0.37 per XRP that day. Still, due to its bearish exploits, the XRP has experienced a 2% drop in price over the past three days. At the time of writing, the token switched hands at $0.3615.

Interestingly, despite the token’s bearish outlook, investor interest on a daily chart appeared to persist. XRP’s Relative Strength Index (RSI) was spotted in a rising slope at 55.66 at the time of writing. With a steady increase in buying pressure, the token’s Money Flow Index (MFI) was in an uptrend at the time of writing.

Source: TradingView

Analysis on the chain

With 158,740 unique addresses, the index for daily active addresses trading XRP tokens grew by more than 500% on July 20. By July 21, this had increased to 169,560 addresses. At 8110 addresses at the time of writing, this statistic has dropped 95% in the past two days.

In addition, the past three days have been marked by a gradual decline in the number of new addresses created on the XRP network. At 1461 addresses at the time of going to press, a decrease of 13% was registered in the three-day reporting period.

Source: Santiment

Further, with trading activity diminishing since July 20, the total number of XRP tokens for all trades completed in the past three days has fallen from 3.07 billion to 167.88 million. In USD, this was down from $1.14 billion to $60.43 million over the three-day period considered.

Source: Santiment

Still, on July 20, at odds with the Securities and Exchange Commission, Ripple, the owners of the XRP token were served with the regulator. movement seeing the revocation of amici status granted to XRP holders and also prevent further participation of John Deaton (XRP Holder Representative) in the lawsuit.



This post Ripple investors may rethink their investments after XRP’s performance over the past three days

was published first on https://ambcrypto.com/ripple-investors-may-re-consider-their-investments-after-xrps-performance-in-the-last-three-days/

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