XRP images they may be poised to recover after a significant increase in Internet activity, as well crypto currency it continues to trade near the $1 support level.
In this regard, daily XRP addresses increased from 23,000 on June 14 to approximately 39,500 by June 27, which represents an increase of approximately 72% in just two weeks, according to Saint data shared by crypto expert Ali Martinez in X post on June 28.
The increase reflects the growth of on-chain activity even though XRP is struggling to increase in value. This difference between the increase in network usage and the decrease in price has become a key factor for investors who want to predict the price of XRP.
Daily addresses, which track specific wallets that connect to the network, have risen sharply even though XRP is trading at around $1.05, below the levels seen earlier this year.
In the past, an increase in active addresses often leads to a strong price drop, making the recent increase a positive sign for XRP.
This is also in line with the ongoing interest of the institutions and the number of senior holders during the recent market downturn.
Despite this bullish XRP is still near a major support level as cautious market sentiment and aggressive selling continues to drive gains. As a result, the brand did not properly reflect its origins on the chain.
Overall, the jump in active addresses suggests that XRP may form a base instead of going deeper.
With this in mind, Finbold turned to OpenAI’s ChatGPT to assess the economy’s short-term performance.
ChatGPT’s XRP price predictions
ChatGPT said that if online activity continues to increase and XRP works above the $1 support level, the token may approach $1.20 to $1.35 in the coming weeks. A break above this level could initiate a move to $1.50.
The strong appearance of AI comes from the large increase in the number of active addresses despite the low prices, a difference that often indicates a strong demand.
However, ChatGPT warned that a break below $1 could undermine this idea and could lead to some trouble before it is discovered.
The price of XRP
At press time, XRP was trading at $1.05, up about 0.5% over the past 24 hours but down more than 7% on the weekly chart.
Technically, XRP remains below the 50-day moving average (SMA) of $1.25 and the 200-day SMA of $1.51, indicating that the broad trend is still intact.
However, its 14-day strength index (RSI) of 31.78 is close to oversold, suggesting that the sell-off is likely to decrease.
Combined with the recent increase in active addresses, the setup could support a rally if XRP continues to stay above the $1 key level.
