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This week saw a significant drop in XRPActivity on the chain, as evidenced by recent data showing that payment volume, a key measure of the network’s utility, has fallen by nearly 70%.
XRP transfers between accounts have decreased dramatically, according to the metric from more than 700 million daily transactions at the beginning of October to about 230 million at the end of the month. Concerns regarding the demand of the network and the general perception of the Ripple ecosystem are brought about by this sharp drop in the transactional flow.
The decrease in payment volume indicates either a short-term slowdown in remittance or institutional activity, or a more widespread drop in organic usage as the token tries to regain its market share. XRP’s on-chain metrics have historically experienced prolonged declines in tandem with periods of price stagnation, and the current situation appears to be no exception.
Technically speaking, XRP it is currently trading at around $2.49, just above short-term support, but still below significant resistance levels indicated by the 100-day and 200-day moving averages, which are around $2.78 and $2.81, respectively. The recent failure of the asset to hold above the trend line after trying to break out of its descending wedge suggests that bearish sentiment is still present.
Momentum is still weak, as indicated by the RSI near 45, which shows a neutral position, but tilts slightly towards bearish territory. A noticeable slowdown in on-chain throughput, along with market skepticism regarding Ripple’s ongoing regulatory environment, may limit XRP’s upside in the near future.
The $2.40-$2.35 area is still important as short-term support for now; if it is lost, there may be another correction towards $2.10 or even lower if selling pressure increases. A recovery of $2.80, with a verified discovery, on the other hand, would be the first indication of a recovery and a resurgence of network demand.
Shiba Inu is not feeling well
As the largest cryptocurrency market halts, Shiba Inu he still has problems, and shows no signs of improvement. The token has once again fallen below important short-term support levels, raising the possibility of further declines.
SHIB is still trapped in a long descending channel that has dominated its price action for months, with its current price hovering around $0.0000099. The general trend is still bearish, despite the short-term recovery. Steady selling pressure is highlighted by the recent unsuccessful attempt to break above $0.0000105, a minor resistance line that is in line with the short-term uptrend line.
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Even worse is the overall technical picture, which shows that SHIB is trading well below its 200- and 100-day moving averages, which have both served as formidable resistance since September (around $0.0000128). Whenever the token approached these thresholds, the sellers quickly took back control and pushed back the price.
At 41, the RSI shows no indication of bullish divergence and weak momentum. In addition, volume has decreased compared to previous peaks, which suggests that market players are becoming disinterested, and that volatility is decreasing, which often signals the beginning of a subsequent decline.
The next logical support is located near $0.0000075, where buyers intervene first during the previous sale, if SHIB is not able to hold above that level. The Shiba Inu ecosystem has essentially slowed down, and the data on the chain indicates that the big holders have not accumulated much. There is little chance that the token will change its direction anytime soon unless there is a catalyst or new demand.
Ethereum loses $4,000
ethereum it is currently trading just below the crucial $4,000 mark, which is both a technical and psychological barrier that can determine the course of the market’s future. After weeks of swings, ETH is currently trading at around $3,850, demonstrating its tenacity in the face of numerous unsuccessful breakout attempts and tough resistance pressure.
Surrounded by the 200-day and 100-day moving averages, the daily chart shows Ethereum’s continued consolidation between $3,600 and $4,200. Throughout the year, these levels served as both launch and rejection areas. ETH is currently holding support near $3600, which has maintained a more severe break so far.
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The market’s caution remains, however, as any drop below this level could expose it ETH to a retracement towards $3,400. Momentum measures such as the RSI, which is around 44, are neutral but bearish, indicating that purchasing power is still low. Volume has also decreased, suggesting that traders are unsure and waiting for a signal.
The crucial range of $4,000-$4,200 would have to be recovered to signal that the bulls are regaining control, and could open the way for $4,500-$4,800, particularly if Bitcoin remains stable above $110,000. Ethereum’s weakness compared to Bitcoin, which has been a recurring theme throughout October, would be confirmed by a further rejection around $4,000.
As money moves into BTC and large-cap altcoins with greater momentum, ETH may remain range-bound or gradually decline. Investors should not panic, but rather exercise patience during this time. Although the structure is still in place, Ethereum must close above $4,000 with volume to return to a bullish outlook. Until then, ETH is balanced between maintaining support and entering another correction phase, which makes the $4,000 break crucial.
