XRP has surged sharply this time, but it may be nearing its peak, so we need to be cautious. On-chain data reveals that more than 70% of the retail investors who jumped in from the end of last year to the beginning of this year are currently in profit. These people are likely to run away at the first sign of trouble, faster than anyone else. The historical script is already laid out—those who bought at the highs in 2017 and 2021 ended up with significant losses.
Even more bizarre is the on-chain activity; the number of active addresses that were bustling in March has now dropped to just 39. While it’s not necessarily bad that more people are holding onto their assets, the price is rising cheerfully while no one is using this coin, mirroring the patterns seen before the previous peaks.
Technical analysts are also sounding the alarm; the descending triangle on the weekly chart is tightening. The recent surge failed to hold and quickly fizzled out. Experienced investors know that this kind of movement usually leads to a downward trend. If it really hits the $1.7 support line, it could drop another 25% from the current price. Don't be fooled by the current price still hovering around $2.5; the short positions held by market makers are piling up thicker.
Today's focus: OM SUI SOL FUN BTC
