Despite recent gains in the cryptocurrency market, XRP’s staking activity has shown signs of decline. Data from on-chain monitoring firm XRPSCAN reveals a decrease in total staked XRP as investors adjust to rising market uncertainty.
Currently, around 12.9 million XRP are locked in automated market maker (AMM) pools on the XRP Ledger DEX. This represents a dip compared to previous periods.
While this decline suggests lower investor confidence, it’s important to note that the number of active AMM pools offering XRP liquidity has grown to 20,299. This growth, despite the decrease in overall staked XRP, indicates a shift in how liquidity is distributed across the network.
Analysts suggest that this change may be due to increased volatility in XRP prices or growing investor fear regarding market uncertainty. This uncertainty likely led investors to decrease their staking activity.
The recent price dips of XRP have been observed by investors as well, with the token’s daily gains now measured at just a mere 0.29%, after experiencing significant jumps during the past few days. While trading at $3.32 today, it has dipped from a high of $2.45 just five days ago.
Despite this decline in activity, XRP is expected to regain momentum based on the optimism surrounding its future performance and continued market trends.