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.
Samyukhtha L KM is a Financial Journalist and Market Analyst at AMBCrypto whose work is defined by one central question: Is the latest trend in blockchain hype, or history in the making?
Her expertise is built on a strong academic foundation, with a Master’s in Journalism and Mass Communication from Amity University and a Bachelor’s in Commerce from the University of Madras. This dual qualification equips her with a unique skill set: the financial acumen to dissect market mechanics and the journalistic rigor to investigate and communicate complex subjects with clarity.
Samyukhtha specializes in analyzing the socio-economic impact of blockchain adoption and assessing the viability of new market narratives. This includes a focus on high-velocity, community-driven assets such as memecoins, where she evaluates sentiment and fundamentals. She is dedicated to providing readers with insightful, well-researched commentary that looks beyond immediate market moves to understand the long-term implications of decentralized technology.