XRP’s continuous decline raises concerns amongst market participants, but the asset remains well-positioned for a much-needed correction.

At press time, XRP is down by 10%, and has lost more than 30% in price value over the past month.

Despite continuous decline, which has seen the asset lose more than 30% in price value over the past month, XRP is still well-positioned for a much-needed correction.

At press time, XRP is down by 10%.

Interestingly, even as the global crypto market shows no sign of bullish reversal, the token has a chance of making a comeback as network activity soars.

On February 25th, XRP recorded a surge in network activity as transactions hit 2,054,526.

While the factor spurring the uptick in transactions is yet to be determined, new inflows are entering the XRP ecosystem.

The increase in on-chain activities might also be linked to traders' anticipation of a correction in price value. In the near term, on-chain activity remains a catalyst for price reversal and stability.

XRP price predictions are still bullish

As the bloodbath continues, predictions from key players have remained bullish. Notably, altcoin analyst Matthew Brienen maintains optimism, confidently stating that XRP is on track to hit four digits.

While this prediction might seem optimistic for a volatile altcoin like XRP, several fundamental factors underpin analysts’ bullish outlook.

For instance, Ripple’s CTO, David Schwartz, highlights a new wave of institutional investors entering the Ripple ecosystem. “We are on the cusp of mass institutional adoption, and there are no hurdles in sight.

However, the near term seems bleak as the token struggles to hold support, and the MACD is flashing red, while the 12-day EMA is below 26.

At report time, XRP is trading at $2.07, and the global market cap is down by 5.18%.