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XRP traded largely sideways Monday as broader crypto markets showed signs of hesitation and fading momentum.
The sixth-largest crypto asset is now caught between weakening on-chain fundamentals and a more stable but still fragile price structure.
Fresh data, highlighted by analyst Ali Martinez and based on Santiment metrics, shows that XRP network activity has dropped sharply over the past two weeks.
“XRP network activity has dropped by nearly 50% in the past two weeks, as active addresses declined from 50,000 to around 25,000.” The pundit tweeted Friday.
This steep reduction suggests that fewer users are interacting with the XRP Ledger, indicating a cooling phase in transactional demand and a slowdown in adoption momentum following a period of elevated activity.
 
While the drop in network usage raises concerns about short-term engagement, sentiment data is telling a more complex story.
Earlier this week, Santiment also reported that XRP sentiment had reached its most negative reading of 2026, reflecting a surge in bearish commentary across social platforms.
Historically, such extreme fear conditions have often appeared near local market lows, where pessimism becomes overcrowded, and downside pressure begins to exhaust itself. However, this does not automatically translate into an immediate recovery, as extreme sentiment can persist during extended consolidation phases.
However, more recently, sentiment across the broader crypto market has started to recover, including for XRP, Bitcoin, and Ethereum, following improved macro conditions after easing geopolitical tensions linked to a U.S.–Iran agreement.
According to Santiment’s latest commentary, bullish sentiment has begun to outpace bearish views across top crypto communities, with XRP showing a bullish-to-bearish ratio of around 1.65 to 1.
Despite this improvement, the firm’s analysts emphasize that the market is still far from “greed” territory.
Technically, XRP’s price structure has continued to attract attention even amid weaker on-chain activity. Analyst EGRAG CRYPTO pointed to a broader multi-timeframe formation on the XRP chart, framing it as a large ascending triangle structure unfolding over a macro cycle.
He noted XRP is progressing through a long A-B-C-D-E wave structure, with the current phase potentially representing the final “E” leg, often interpreted as the last shakeout before a larger expansion phase.
In his view, the market is approaching a critical decision zone where a macro bottom may be forming within the structure. A decisive breakout above the key resistance area between $2.00 and $2.10 would be the trigger that brings higher Fibonacci-based upside targets into play.
If that breakout structure is validated, the projected upside extends significantly higher, with intermediate macro targets clustered around the $9.50 to $17.23 region and a central focus near $13.
To him, longer-term projections even extend toward $26.30, with extreme bullish scenarios envisioning moves toward the $100 level in a full-cycle expansion.
The token was trading around $1.13 at press time, reflecting a gain of roughly 2% in the past 24 hours.