🔍 XRP Defies Doubt — Uptrend Holds Strong Despite Mixed On-Chain Signals

XRP recovers mid-week as XRP/BTC flashes golden cross for the first time since 2017.

Big volume holdings suggest growing demand and investor confidence by increasing XRP exposure.

Rising exchange reserves to 2.9 billion XRP from 2.7 billion XRP on May 1 points to possible selling force.

With the token's price hovering around $2.44 at the time of writing Friday, Ripple's (XRP) mid-week rebound stays steady. The increase in support around $2.29 on Monday reflected larger risk-on attitude in the bitcoin market, which saw altcoins climb with Bitcoin's (BTC) rise to new all-time highs of about 111,980.

Key on-chain indicators like as Exchange Reserves and Supply Distribution exhibit conflicting signals, hence trader prudence is advised and might help to delay the XRP rise aiming toward $3.00.

Positive market general attitude as well as rising whale holdings over the last week have helped to boost the XRP surge. Showcasing the focused accumulation of XRP by investors owning between 10 million and 100 million coins, Santiment's Supply Distribution indicator appears on the chart below.

Up from 11.88% noted on May 12 and 11.58% on April 12, this cohort of investors today possesses 12.1% of the total supply of the coin. Whales' growing risk appetite suggests hope for XRP's future as investors count on a possible price rise.


Based on CryptoQuant's Exchange Reserve measure, which shows a significant increase in Binance's XRP holdings to 2.9 billion XRP from 2.7 billion XRP, traders may cut down hope this weekend as seen on the chart below.

Especially if traders channel the coins to open both long and short positions, the potential selling pressure or increased volatility rises as exchange reserves grow. Usually moving their assets to exchange platforms meant for sale, investors increase overhead pressure greatly.

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