XRP Network Activity Plummets 77%, Raising Concerns
- Network Activity Decline: XRP Ledger's payment volume plummeted by 77% in just 24 hours, recording approximately 86 million payments, marking the lowest level observed in the past week, indicating a significant disconnect between actual blockchain usage and market expectations.
- Signs of Price Weakness: Although XRP's price initially attempted a nearly 1% rise, it quickly stalled, resulting in an almost neutral performance for the day, demonstrating the market's inability to convert initial momentum into a sustained trend, reflecting a lack of buying pressure.
- Resistance Level Challenge: XRP's price faces strong resistance around $1.35, making it difficult to break through in the short term, with the quick price reaction indicating an unstable balance between buyers and sellers, limiting immediate growth prospects.
- Uncertain Market Outlook: The combination of declining network activity and a lack of true momentum in price raises questions about the strength of the bullish scenario, with upcoming developments being crucial to determine whether XRP can restart its momentum or enter a deeper consolidation phase.
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Technical Analysis for SCR
Technical Sentiment Analysis for Scroll (SCR). As of , Scroll (SCR) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SCR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SCR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Scroll (SCR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0306 | 0.0354 | 0.0396 | 0.0444 | 0.0487 | 0.0535 | 0.0577 |
| Fibonacci | 0.0354 | 0.0388 | 0.0409 | 0.0444 | 0.0479 | 0.05 | 0.0535 |
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