The cryptocurrency market started the day with an increase, but experienced a decline throughout the day. XRP, which lost an average of 1% in the last 24 hours, dropped to $0.51 levels. Santiment, a cryptocurrency analysis platform that evaluates the current situation of XRP, highlighted the decline in key metrics and shared the latest data. According to Santiment’s data, there have been significant drops in 7-day active addresses and network activities.
XRP Approaches $0.5 Levels
Although the cryptocurrency market started the day with an increase, it experienced another decline during the day. The leading cryptocurrency Bitcoin (BTC) dropped to $25,900 levels along with its recent value losses. Many cryptocurrencies with high market value also experienced varying degrees of value losses during the day due to BTC’s decline.
XRP, which fluctuated between $0.53 and the $0.5 support during the week, managed to maintain the $0.5 support despite being tested multiple times. However, XRP, which could not surpass the $0.53 levels, lost an average of 1% in the last 24 hours and dropped to $0.51 levels, approaching the $0.5 support significantly. With the value losses recorded in recent weeks, the trend of XRP, which experienced a strong rise due to the decision in the Ripple case in mid-July, has largely reversed. In addition to the value loss in XRP, Santiment’s latest data shows significant drops in key metrics.
Cryptocurrency Analysis Platform Shares Latest Data
With the increasing value loss in XRP due to the downward trend in the cryptocurrency market, Santiment, a cryptocurrency analysis platform, drew attention to the decline in critical indicators and shared the latest data. According to Santiment’s data, there has been a significant drop in 7-day active addresses.
In addition to the increasing value loss in XRP in recent weeks and the drop in 7-day active addresses, there has also been a significant decline in network growth since last week. Although the developments in the Ripple case caused XRP to regain the attention of investors in mid-July, the increasing value loss in recent weeks has reversed the popularity of XRP during this period.
