XRP's price has been under pressure despite strong developments in the XRP Ledger ecosystem. Data shows that on-chain activity and DeFi growth are increasing, with the number of successful transactions reaching 3.111 million and average transactions per ledger jumping by 129%. Additionally, the number of automated market maker (AMM) pools has grown to 27,860.
However, despite these positive developments, XRP's price remains down 27.3% this year and 2.91% in March alone. Experts believe that the current phase could be a buildup period for future gains, with some likening it to a 'calm before the storm' situation.