After reaching a fresh all-time high earlier this month, XRP’s momentum has slowed, with the price consolidating around $3.23. While the overall crypto market continues to climb, weakening on-chain activity and fresh allegations of market manipulation are giving traders reason to pause.
Many now fear a drop in XRP’s price due to its falling market dominance. But what’s happening?
XRP Network Activity Loses Steam
XRP’s network activity is showing clear signs of strain, with daily active addresses taking a steep hit. Data from XRPscan shows daily active addresses have plunged to just 52,380, while active payments over the past 24 hours have fallen sharply to 835,000.
Meanwhile, the social media buzz is also fading, with XRP’s share of crypto-related discussions dropping to 3.54%, well behind Bitcoin and Ethereum.
Allegations of XRP Price Manipulation
Fueling further price plunge over potential wash trading has emerged after validator operator Grape flagged unusually large transfers, often exceeding 140,000 XRP, between major exchanges like Binance and Bitget.
These movements bear the hallmarks of “wash trading,” a tactic used to artificially boost volume or influence prices. Although such tactics are banned in traditional finance, the crypto market’s looser enforcement could allow them to persist.
Ripple CTO Stresses Strong Fundamentals
Despite short-term concerns, Ripple CTO David Schwartz has highlighted the XRP Ledger’s durability and efficiency, citing its 13-year uptime, low transaction costs, and direct XRP transfers without gas fees.
He also pointed to the surge in tokenized real-world assets on the ledger from $5 million in January to over $118 million by July, a 2,260% jump, as a sign of deepening adoption.
XRP Price Outlook
Looking at the price analysis, technical signals suggest key levels ahead. A daily close above $3.3182 could open the door to $3.477, then the $3.60–$3.68 liquidity zone. Breaking higher may fuel a push toward $3.85 and $4.00.
However, slipping below $3.20 could bring $3.094 into play, with further downside risk toward $3.00.
However, XRP RSI sits at 56.1 still leaves room for a price jump.
