XRP Securities Near $2.20: Profit-sharing Agreements Confirm Revenue
Since October 2024, XRP has recorded outstanding performance in the cryptocurrency cycle, witnessing an increase of over 300%, surpassing the $2 mark. However, strategic investors from the early stages are making significant profit-taking operations, creating substantial distribution pressure that hinders this token's rise below the peak established in 2021.
Chain Data Reflecting High Selling Pressure
Through chain data from Glassnode, it can be seen that XRP wallets have locked in profits of up to $68.8 million this month, the highest in over a year. This phenomenon indicates strong selling pressure, mainly from long-term investors who bought XRP at prices below $0.60. Despite positive technical signals and a solid market structure, XRP has not yet been able to surpass the $2.20 threshold due to the impact of profit-taking waves.
Supportive Legal Policies, But the Burden Has Not Yet Been Lifted
Ripple's expansion into tokenized assets and clearer regulations in the U.S. has created an optimistic sentiment in the market. However, these factors have not been sufficient to create a breakthrough above the $2.20 resistance. Supply pressure from long-term holders still exists, limiting growth potential despite a significant improvement in fundamentals.
The Altcoin Market Still Bears the Weight of Negative Pressure
According to CryptoQuant, the overall altcoin market is still facing many difficulties. The total accumulated buying/selling difference of altcoins (excluding BTC and ETH) has reached a negative $36 billion, which has significantly decreased compared to the short-term positive state in December 2024. Independent analyst Burak Kesmeci stated that 'altcoin investors are absent,' with only a few names like XRP, SOL, and new RWA-themed tokens showing real strength.
Although XRP remains a bright spot among large-cap tokens and has the potential to lead trends, its upward momentum has not fully resisted the overall negative market dynamics. Without a recovery in risk sentiment or funds flowing back into Layer 1 platforms, DeFi, or gaming sectors, the possibility of an altcoin season remains distant. Currently, XRP's upward momentum heavily depends on its ability to surpass the $2.20 threshold and mitigate the impact from early profit-taking investors.
Whales Keep Buying
A report from Santiment indicates that the XRP ecosystem is facing significant activity. Large buyers, or 'whales,' continue to increase their positions. Wallets holding over 1 million XRP have reached a record high of 2,708 wallets, equivalent to a value of over $6.4 trillion. This is the first time in XRP's 12-year history that such a large number of holders has been recorded.
At the same time, the number of daily active addresses on the network has surged, exceeding 295,000 in just one week, reflecting a growth of 637% compared to the usual average of 35,000 to 40,000. This volatility indicates that user participation and finance are beginning to return, opening up hopes for the market's recovery in the near future.
Source: https://tintucbitcoin.com/xrp-giam-do-chot-loi-o-at/
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