XRP is close to 2 dollars, but its price and trading volume show an inverse correlation

ChainCatcher news, according to Cointelegraph, the price of XRP has increased by 232% in the past 30 days, and its on-chain metrics also indicate a positive recovery for XRP. Data from xrpscan shows that the number of active accounts or unique senders on the XRP network rose from 15,592 on November 1 to 47,044 on November 16. The total number of active accounts in November has doubled on average (an increase of 100%), rising from around 12,000 to 25,000 this month. Similarly, the number of new accounts activated on the XRP ledger in November has also significantly increased, indicating a large influx of new users onto the network.

Analysts believe that the current target price for XRP may be between $1.95 and $2.05, but it is important to note that since November 16, the price and trading volume of XRP have shown an inverse correlation, suggesting that XRP is undergoing a distribution phase, and market traders may be looking to sell.