Ripple investors may reconsider their investments after XRP’s performance over the past three days

= In recent days, the chain performance of the XRP token has told the story of a steady decline in bids and offers for the leading altcoin. According to data from Saniment, on July 20, there was a significant increase in the number of unique addresses transacting with the XRP token. Similarly, on the same day, a significant volume of previously inactive tokens changed address as the age of the consumed token reached a considerable high of 854.32 billion. This represented the highest level the metric has marked since December 2020.

How exactly has the coin fared since July 20?

Price performance analysis

Since July 12, the price of XRP has embarked on an uptrend. However, on July 20, it broke out of an ascending wedge, which was followed by a drop in the price of the token. The token was trading at $0.37 per XRP that day. Yet, on its bearish exploits, XRP has recorded a price decline of 2% over the past three days. At the time of writing, the token was trading at $0.3615.

Interestingly, despite the bearish outlook for the token, investor interest appears to have been sustained on a daily chart. XRP’s Relative Strength Index (RSI) was spotted trending upward at 55.66 at press time. With a steady increase in buying pressure, the token’s Money Flow Index (MFI) was in an uptrend at the time of writing.

Source: Trading View

On-chain analysis

With 158,740 unique addresses, the index of daily active addresses that traded XRP tokens increased by more than 500% on July 20. As of July 21, that number peaked at 169,560 addresses. At 8110 addresses at the time of writing, this metric has seen a 95% decline over the past two days.

Additionally, the past three days have seen a gradual decline in the number of new addresses created on the XRP network. At 1,461 addresses at press time, a 13% decline was recorded over the three-day period under review.

Source: Santiment

Additionally, with a decline in trading activity since July 20, the total amount of XRP tokens for all transactions made in the last three days has increased from 3.07 billion to 167.88 million. In USD, this is down $1.14 billion to $60.43 million in the 3-day reporting period.

Source: Santiment

Yet in disagreement with the Securities and Exchange Commission, Ripple, the owners of the XRP token, on July 20, were served with the regulator movement see revoke the amici status granted to XRP holders and also prevent any further participation by John Deton (representing XRP holders) in the lawsuit.