XRP Payment Activity Surge Raises Doubts

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

JASMY-0.868%

XRP-0.947%

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Surge in Payment Activity: XRP Ledger experienced a brief surge in payment activity exceeding 1,000% at the beginning of July, but this momentum quickly dissipated, raising doubts about the authenticity of network growth claims.
Impact of Internal Transfers: Analysts linked the spike primarily to internal transfers, exchange wallet movements, and treasury operations rather than genuine user adoption, leading traders to adopt a cautious market stance.
Persistent Technical Resistance: Despite the temporary increase in network activity, XRP remained below its 50-day and 100-day moving averages, failing to break through the critical resistance level around $1.20, indicating a lack of sustained buying momentum.
Cautious Market Sentiment: Investors have become increasingly cautious in their reactions to short-term payment spikes, emphasizing the importance of liquidity and trading volume, and believing that without sustained growth, temporary increases carry limited influence over market sentiment.

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Technical Analysis for JASMY

Technical Sentiment Analysis for JasmyCoin (JASMY). As of , JasmyCoin (JASMY) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 2 indicators are flashing buy, while 2 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for JASMY 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, JASMY 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 $-.

JasmyCoin (JASMY) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00354	0.00384	0.00418	0.00448	0.00482	0.00512	0.00546
Fibonacci	0.00384	0.00409	0.00424	0.00448	0.00473	0.00488	0.00512

About JASMY

JasmyCoin (JASMY) is a cryptocurrency project of a Tokyo-based Internet of Things (IoT) provider Jasmy Corporation. As a system, the Internet of Things includes mechanical and digital elements endowed with an identifier and the ability to transmit data. The IoT company Jasmy specializes in buying/selling data, and the Jasmy platform connects two categories: service providers and data users.The Jasmy platform was built to restore and protect the sovereignty of individual data by combining IoT technology with blockchain technology and giving users full control over their personal information. The main goal of the project is to establish a secure environment on the platform where users can exchange data in a trustless manner between IoT devices (computers, cars, phones) and decentralized protocols.The mission of Jasmy developers is to create an environment by shaping an infrastructure where users can easily, safely and smoothly use data. As a result, Jasmy aims to provide its users with a powerful infrastructure, an intuitive interface and a secure environment for storing and sharing data. In the Jasmy space, information can be transformed into personal assets.Jasmy decentralizes the workflow with edge computing and storing data on IPFS (InterPlanetary File System). The philosophy of the project is based on the democratization of data using a decentralized model, where data is securely protected and owned by an owner, and service providers get the opportunity to promote their services/business using data (owned by users).

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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