XRP's recent performance is indeed contradictory. On one hand, the price repeatedly tests around $2.15, with continuous market buy signals, and many are optimistic about reaching the $3 target; on the other hand, on-chain data appears somewhat subdued. What is the true situation?

**Fundamental Warning Signs**

In the past 24 hours, XRP's token burn amount was only 465 tokens, with a burn rate as low as 3.79%, which is almost embarrassing. In the crypto ecosystem, the burn rate usually reflects the actual usage activity of the network. What does such a low burn amount indicate? The usage of core functions like on-chain payments and transfers is worrying, lacking genuine transaction demand to support it.

Market sentiment is indeed heating up, and the price has been pushed up to around $2.1, but this rally is hard to say to be solid. Without on-chain activity support, a rally driven solely by speculative enthusiasm often doesn't last long. The divergence between fundamentals and price should not be underestimated.

**Technical Tug-of-War**

From the 4-hour chart, XRP is precisely stuck at the $2.15 level. This is exactly the critical zone between the middle band (2.0911) and the upper band (2.1686) of the Bollinger Bands, where bulls and bears are in stalemate. Yesterday's decline shows that the upward space has been significantly suppressed.