XRP Struggles Below $2.00 as Network Activity Remains Weak

XRP is currently under pressure, trading near $1.86 and remaining below the $2.00 level following a recent downtrend. While long-term XRP holders are showing increased conviction, evidenced by a 3% rise in supply held by wallets holding for one to two years, this optimism has not translated into stronger network activity.

Macro indicators like the Network Value to Transactions (NVT) ratio are elevated, suggesting that valuation is outpacing on-chain utility, which weakens recovery attempts. XRP is currently holding above the $1.85 support level, with potential consolidation near $1.94 if selling pressure eases, though a drop toward $1.79 is possible if sentiment worsens.

A meaningful price recovery hinges on improving network activity and broader market stability, with a break above $1.94 being the initial step toward reclaiming $2.00 and potentially driving the price toward $2.20.

(Source：BeInCrypto)