I noticed an interesting detail in XRP's behavior. Yes, the price has nearly halved since last year, but if you look at the NVT ratio, the picture is quite different. Currently, it shows 170.2, which indicates that the network is operating much more actively than before, even at a lower price.

In 2025, when XRP traded above $3, daily transactions hovered around 1-2 million. Now, at a price of 1.41, activity has increased to 1.8-3 million per day, and sometimes even over 4 million. A month ago, there was even a spike up to 5 million transactions in a day — the highest in two years.

This means people are actually using the network, not just speculating on the price. Previously, when the price was higher, the NVT showed high values, meaning the market was overvaluing the asset. Now, the ratio has become healthier. Plus, institutional investors are pouring money into spot ETFs for XRP — over a billion dollars already.

Analysis from thecryptobasic shows that in April, volatility contracted, and the price moved within a narrow range, but the network remains steadily active. This looks like accumulation before a move. The fundamentals are clearly stronger than they appear on the price chart.