- Transaction fee burns declined sharply, raising concerns about on-chain activity and network usage despite positive accumulation and technical buy signals.
- If $2.98 support holds, XRP may target $3.45–$3.60; otherwise, a correction toward $2.70–$2.75 appears likely.
XRP (Ripple) is trading at $2.92, down 1.69% in the last 24 hours. On a weekly scale, the token has fallen 3.65%, and it is down 5% this month.
Despite these short-term corrections, XRP remains up 19% in the past six months and an impressive 388% over the past year.
Its market capitalization stands at $174.46 billion, with a 24-hour trading volume of $3 billion.
Recent updates point to a mixed outlook. ETHNews analysts are forecasting the potential for XRP to climb as high as $9.90, and even $20 if momentum strengthens. This projection is backed by accumulation patterns and a buy signal from the TD Sequential indicator.
However, concerns are emerging from the network itself: on September 21, only 163 XRP tokens were burned in fees, a sharp decline compared to July and August. Lower burn rates raise questions about on-chain usage and the overall demand for transactions.
Institutional adoption remains a strong theme. DBS and Franklin Templeton have announced a collaboration on tokenized trading and lending valued at $730 million, leveraging Ripple’s RLUSD stablecoin. This development suggests that Ripple technology continues to attract large-scale financial institutions seeking efficiency and liquidity in tokenized asset markets.
XRP must defend $2.98 support to avoid deeper corrections. If it holds above that threshold, price action could consolidate before attempting another push above $3.30, which would open the path toward retesting the all-time high at $3.66. A failure to maintain support could drag the price back to the $2.70 zone.
ETHNews prediction: If bullish signals persist and institutional flows continue, XRP could rise to $3.45–$3.60 in the next week. Conversely, if $2.98 breaks, expect a drop toward $2.70–$2.75 before a rebound attempt.
