- Despite the legal clarity, XRP is struggling with the decrease in activities and falling prices in the face of the market.
- The weakness of the XRP persists because weak purchasing pressure and reduction address persist on signal careful emotions.
Ripple may have won the court battle, but XRP is defeated in the market. The SEC would have been a game changer by strengthening the security status of XRP, which had reduced appeal.
Instead, the active address plunged almost 70%, and the token price dropped 11% in a week.
Clarity does not always mean victory.
Legal victory with the “ripple” effect
The US SEC has lost appeal in Ripple Case, indicating the central moment of the encryption industry.
After several years of legitimate problems, the decision not to challenge the 2023 ruling of the US District Judge brings clarity that has long been waiting for the regulatory state of XRP.
The ruling was a programming program for Ripple’s XRP through secondary exchanges such as Coinbase and Krake, but it did not violate securities law, but directly sold to institutional investors, Ripple paid $ 125 million.
Experts emphasized the importance of SEC’s decisions as Ripple cases develop more than other cases of Coinbase and Krake than other cases.
With legal dust settled, the focus is now moving to the possibilities of XRP ETF, and market optimism on the potential approval of 2025 increases.
But not everything is seen.
Decrease in activity, price decrease
Despite the legal victory, XRP’s market performance tells a different story. In the hot chain data, the daily active address suggests a decrease in the weak user participation.
Source: Santiment
Historically, the rapid decrease in the active address is low in liquidity and decreases inferred interest, which can worsen downward momentum.
In the last two weeks, XRP has lost more than 11% of its value and has struggled to find support by selling pressure mounts.
Source: Coinmarketcap
Reducing network activities can show faintly interested investor trust as the trader turns attention elsewhere.
Without a renewed utility or a default catalyst, XRP will be in danger of falling a greater decline unless the buyer returns to the market.
XRP: Should I support support?
The price of XRP remains weak, and token transactions are traded at $ 2.18 for a simple relief bounce. The RSI is located at 42.65, and you can see the larger disadvantages before entering the area with weak exercise and broadcasting area.
Meanwhile, OBV increases lower, suggesting a decrease in purchasing pressure.
Source: TradingView
The recent decline has been seen that XRP loses its main support, and it is possible to deeper $ 2.00 without a strong reversal. If Bulls regains control rights, the resistance near $ 2.30 can be challenged.
To change trend, you need more than this level. But the decreasing command indicates that the merchant maintains a cautious state.
If the sales pressure persists, the XRP can resume low support and visit $ 1.90 again.