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<figure><figcaption> Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a></figcaption></figure>Although the price of <a href="https://u.today/xrp-price-adding-zero-is-possibility-now" rel="noopener noreferrer nofollow">XRP</a> fell by a startling 7% today, the asset's fundamental strength has been steadily increasing, which could pave the way for a long-term recovery. On-chain data points to a hidden utility surge that might act as a powerful counterbalance to the market's bearish price action despite the fact that market sentiment has recently <a href="https://xrpscan.com/metrics" rel="noopener noreferrer nofollow">declined</a>.Price-wise, <a href="https://u.today/bloomberg-veteran-shares-fascinating-observation-about-xrp-and-bitcoin" rel="noopener noreferrer nofollow">XRP</a> has formally broken below the 200 EMA and the important trendline support at about $1.94, validating a bearish continuation pattern that has been developing since its unsuccessful attempt to recover $3. Investors are becoming increasingly concerned as the price is currently circling $1.78.<img src="https://u.today/sites/default/files/inline-images/image_1963.png" alt="XRPUSDT">With a RSI circling oversold territory (~31) and strong selling pressure, technical indicators point to a precarious situation that could get worse in the absence of a reversal catalyst. But if you look at the basics you see a more promising picture. Data from XRPScan indicates that the amount of payments on the XRP Ledger has significantly increased, reaching over 693 million XRP on April 7 alone.Although price movement conveys a sense of surrender, the volume of payments indicates growing usefulness and active <a href="https://u.today/bloomberg-veteran-shares-fascinating-observation-about-xrp-and-bitcoin" rel="noopener noreferrer nofollow">XRP</a> network adoption, which frequently occurs before price action in developing crypto ecosystems. The decoupling of price and utility suggest a fundamental divergence: network participants are transacting more than ever before while speculators are selling.These kinds of situations have historically produced favorable conditions for recoveries, especially when utility grows too important for markets to overlook. However, the short-term market outlook is still unclear. As a potential psychological and technical support level, traders should pay special attention to the $1.65 level. If broken, XRP could go into a more severe correction that would move it closer to the $1.40 range.On the other hand, routes back to the $2 zone would become accessible with a swift retaking of the 200 EMA. The price of XRP has plummeted, but the spike in transaction volume suggests that the story may not be finished yet. Although the market is still lagging behind, the fundamentals are growing stronger.<a href="https://u.today/632-million-xrp-price-down-fundamentals-up" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

632 Million XRP: Price Down, Fundamentals Up

U.Today

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