Recently, the XRP coin has truly been a love-hate relationship! As the 'favorite child' of the Ripple network, its performance this year has indeed been impressive, reaching as high as the third position by market cap, only behind BTC and ETH, the two big brothers. But to be honest, the distribution of XRP holdings is quite concerning.

First, let's talk about the current situation. The price of XRP is hovering around $2.4, with a 24-hour trading volume of $2.8 billion, which indicates good liquidity. But did you know? The top 100 addresses hold over 70% of the XRP! This concentration is quite exaggerated, right? Especially since Ripple Labs itself holds 46 billion coins, although most are in a locked state, any small movement from this giant can shake the market significantly.

From a technical perspective, XRP is currently at a critical position. The short-term support is around $2.3, and if it can hold this position, it might challenge $2.5. The MACD indicator shows there is still room for an upward trend, but the RSI is already close to the overbought zone, so there could be short-term pullback pressure.

My personal view is:

1. In the long term, XRP indeed has advantages in cross-border payments, and Ripple's cooperation with major banks is not just for show.

2. However, the short-term volatility is too large; it's not suitable for those with weak hearts.

3. Large holders have significant control, making it easy for retail investors to get 'cut in the harvest'.

Recently, I've been observing an interesting phenomenon: every time XRP is about to break through a key support level, there are always large orders coming in to protect the price. Do you think this is institutions accumulating positions, or just pure price protection? Feel free to share your thoughts in the comments section～

Investment advice:

- For those looking to hold long-term, consider waiting for a pullback to $2.2-$2.3 before making a decision.

- Short-term players should be cautious and set stop losses to avoid being caught in sudden volatility.

- Absolutely avoid going All in! You know the volatility of this coin.

Finally, I want to remind everyone that the crypto market is highly risky, and investments should be made cautiously. Do you think XRP can break its previous high of $3.84 this year? Come and share your views in the comments section!