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XRP stagnates under $2.30 – Will developer activity save the altcoin?
By: bitcoin ethereum news|2025/05/07 04:00:05
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XRP traded sideways as daily user and whale activity hit their lowest levels since 2024. Developer activity surges with new DeFi protocols, but technicals suggested that XRP lacked bullish momentum. Ripple [XRP] is stuck in a holding pattern, with price action losing steam as network activity declines. While a slight rise in developer engagement offers a glimmer of hope, on-chain metrics and technical indicators point to fading momentum. Network pulse fades as user and whale activity collapses XRP’s recent price stagnation mirrors a broader slowdown on the XRP Ledger. According to Santiment, daily active addresses have plunged to just over 40,000 – a dramatic decline from March’s peak of 612,000. Whale activity has followed suit, with large transactions over $100,000 dropping by a third since their March highs. This sharp pullback in user and whale engagement marks the network’s weakest point since November 2024. Source: Santiment Developer activity surge Despite weakening on-chain fundamentals, developer activity on the XRP Ledger has sharply accelerated. GitHub data shows a 196% surge in contributions over the past 30 days — a strong indicator that behind the scenes, momentum is quietly building. This uptick coincides with the debut of two new protocols, Vaultro Finance and XpFinance, which both launched on the 5th of May. Their arrival suggests a growing appetite for DeFi infrastructure on XRPL. Meanwhile, Ripple’s recent acquisition of prime brokerage firm Hidden Road signals deeper institutional ambitions. XRP struggles in a tight range XRP was locked in a narrow range at press time, hovering just above the lower Bollinger Band and below its 20-day moving average. The RSI at 42.83 showed weak momentum, edging close to the oversold threshold without triggering a recovery. Volume remained muted, reinforcing the lack of buying conviction. Source: TradingView Since early April, the token has failed to break above $2.30 resistance or find strong support below $2.00 – a period of indecision. Until bulls reclaim the mid-Bollinger level, XRP looks poised to drift sideways, with downside risks if broader sentiment worsens. Source: https://ambcrypto.com/xrp-stagnates-under-2-30-will-developer-activity-save-the-altcoin/
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