XRP Early Buyers Accelerate Profit-Taking as Regulatory Wins Bolster XRP Ecosystem
Early accumulators are cashing out into strength as the token tests key resistance levels just below its 2021 peak.
What to know:
XRP is trading above $2, marking a more than 300% gain for early investors, leading to increased profit-taking.
On-chain data shows realized profits from XRP wallets reached $68.8 million, indicating distribution pressure as the token tests resistance levels.
Despite positive regulatory developments and Ripple's infrastructure expansion, XRP faces a supply overhang from long-term holders, affecting its ability to break above $2.20.
