The inability to break through the local resistance level is, for some traders, tied to the most recent flurry of massive transactions on the XRP network. More than 4 billion XRP have been transferred from exchanges to unknown wallets.has been gradually moving downward due to the lack of growth fuel and the depressing state of the cryptocurrency market that has been showing negative netflows since the beginning of November.
As liquidity flows away from the digital assets industry, assets like XRP, Ethereum and others will continue to lose their value as investors sell their assets in exchange for stablecoins and other cryptocurrencies they can use to increase their liquidity and withdraw funds away from the troublesome industry.
With the descending activity of the network, issuance increases and pushes the network's value upward again. However, there is an indicator that shows reversal possibility.
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