Ethereal Sai

XRP may be on the verge of a major price breakout, with crypto analyst identifying what they describe as "classic accumulation" signs. The analysis suggests that a strong $2.20 price support is holding despite low network activity, which may indicate that institutions are accumulating tokens off-chain.
Recent news and factors affecting XRP:
Institutional accumulation: Low retail investor activity, with active addresses around 15,000 to 19,000, has been interpreted as a sign of institutional accumulation taking place silently, potentially through OTC desks and custodial services.Upcoming breakout: The confluence of a stable price during retail scarcity and increasing institutional positioning could lead to a significant XRP price increase, especially if retail liquidity returns.ETF delays: Delays from the SEC due to a government shutdown had temporarily slowed down the altcoin ETF ecosystem, which may have impacted the expansion and price rally of XRP despite the launch of other altcoin ETFs.Institutional Adoption: Spot XRP ETFs are performing well, with institutional buying approaching the $1 billion mark. Grayscale's XRP ETF, in particular, launched on November 24.Whale Activity: Whale selling of $4 billion in XRP during November has tilted the supply-demand balance, reinforcing the bearish short-term sentiment.Analyst Outlook: Conflicting technical analyses surround XRP. Some analysts see potential for a run toward the $20 mark, while others have warned of potential price corrections.Market Sentiment: Market sentiment is currently uncertain, with neither extreme fear nor euphoria dominating. Ripple's Role: Ripple continues to make strategic moves to increase institutional adoption, including its acquisition of Hidden Road earlier in the year. The company holds a prime brokerage license in the US, allowing major financial firms like BlackRock to use the XRP Ledger.
Note: The analysis regarding institutional accumulation and a potential price breakout is based on the opinion of a crypto analyst and is not a guarantee of future performance. Market performance is subject to a variety of factors, including regulatory actions and investor sentiment.
Disclaimers:Info and knowledge sharing.Not a financial advice.
DO YOUR OWN RESEARCH.(DYOR)
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