In Q2 2023, XRP faced several challenges as most of its metrics declined. The Ripple vs. SEC lawsuit had a significant impact on XRP’s price action. The number of average daily active addresses also decreased, but the total number of accounts increased slightly. The NFT ecosystem showed growth, with an increase in NFT transactions. XRP’s trading volume and MVRV Ratio experienced a decline but showed some signs of recovery. The battle between bulls and bears is ongoing. Overall, the quarter was negative for XRP with decreasing metrics and volatility.
AI Sentiment: Negative