Ripple (XRP) Network Activity Plummets, as Whales Move Out – Expert Weighs In on Potential Price Changes

CryptoQuant, a leading cryptocurrency analytics firm, has unveiled a concerning assessment of Ripple’s (XRP) network activity. Their data reveals a significant 80% decline in XRP Ledger activity since its peak in December, reaching record lows recently. This trend is reflected not only on-chain but also in the XRP futures market where open interest has fallen by around 70%, last seen in November 2023. Funding rates have also dropped and even turned negative at times. CryptoQuant’s analysis points to a decline in XRP’s estimated leverage ratio, which reflects average user leverage usage.