Ripple (XRP) Network activity is decreasing, whales attract XRP from the stock markets! What does it mean? Analyst shared the price movement he was waiting for!

Crypto para Analysis Company Cryptoquant, Ripple (XRP) has published a remarkable assessment about. According to the company’s data, the activity on the XRP Ledger decreased by 80 %after the summit in December and reached unprecedented low levels in recent months.

This decrease is not limited to over -chain data. A similar decline is observed in the XRP’s futures market. In open positions (Open Interest), a decrease of about 70 %, while these levels were last seen in November 2023. In addition, the funding rates are also in the trend of a decrease and from time to time negatively.

According to Cryptoquant’s assessment, the estimated leverage rate of the XRP is also declining. This ratio is calculated by the ratio of the open positions on the stock exchanges to the XRP reserve on that stock market and reflects the average leverage use of users.

Despite all these negative data, the XRP price lost only 35 %compared to the summit of December. This rate points to a more limited decline compared to other large crypto beings, such as Ethereum, which lost close to 60 %in the same period.

Another noteworthy data is that the stock market reserves in the XRP Ledger show a constant decrease. The stock market reserves, which were last seen in July 2023, may indicate that investors prefer to hide their XRPs from the stock exchanges.

Cryptoquant claims that these data can be a potential recovery signal for XRP. The relative resistance of the price and the decrease in stock market reserves may indicate the expectation of a positive investor for XRP, although market conditions are challenging.

*It is not an investment advice.