XRP news today: XRP Stagnates Below $2.30 as Network Activity Declines 40%

XRP has been trading in a tight range, struggling to break above the $2.30 resistance level. The altcoin's price action has lost momentum, mirroring a broader slowdown on the XRP Ledger. Daily active addresses have plummeted to just over 40,000, a significant decline from March’s peak of 612,000. Whale activity has also decreased, 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.

Despite the 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, indicating 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 a prime brokerage firm signals deeper institutional ambitions.

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. 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.

In summary, XRP's stagnation under $2.30 reflects a broader decline in network activity, with daily active addresses and whale transactions hitting their lowest levels since November 2024. However, a surge in developer activity, marked by a 196% increase in contributions on GitHub and the launch of new DeFi protocols, offers a glimmer of hope. The technical indicators suggest that XRP lacks bullish momentum, but the growing developer engagement could potentially revitalize the altcoin's prospects.