89% decrease in #XRP transaction fees: Is the price heading below $1.75?

#Ripple transaction fees drop to their lowest levels in five years

The total daily fees on the XRP wallet fell from 5900 XRP on February 9 to about 650 XRP, a decrease of 89%, the lowest level since December 2020.

This decline reflects a sharp drop in open interest volume for futures, which fell to 0.74 billion XRP from 1.75 billion in early October. Funding rates also decreased to 0.001% from 0.01%, confirming a decline in trader confidence in derivatives.

Market sentiment has shifted to fear, reaching its highest level since early October. However, some analysts note that this pessimism often precedes significant recoveries.

The descending triangle model for XRP targets the $1.73 level.

Technical indicators suggest that #XRPUSDT is susceptible to further decline if its price drops below the descending triangle support at $2. The measured target for this pattern is near $1.73, about 15% lower than current levels.

The $2–1.98 range is a critical support zone; maintaining it is essential to avoid further losses down to $1.61.
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