XRP price movement stabilizes at $2.14: Can the Bulls break the downtrend?
XRP has bounced off the support zone of $2.00–$2.10 and is currently accumulating near the $2.14 level. However, this trend still lies within a bearish channel, limiting potential price rallies. To turn positively in the short term, confirmation of a breakout above $2.35 is needed. If successful, pushing the price upward, XRP could move towards $2.60. Conversely, if continuously rejected at the upper threshold, the risk of falling back to $2.00 or even $1.80 remains. Without clear control from investors buying at prices above $2.35, the market structure will lean towards bearish.
Source: TradingView
Why is on-chain activity not keeping up with the excitement?
Although the market sentiment shows a clear recovery, the on-chain activity of XRP has decreased, with the number of daily active addresses only at 17.4K, reflecting a decrease in network interaction. The number of transactions has also dropped after a spike at the beginning of June, indicating an unstable trend in actual usage. This gap suggests that much of the recent upward momentum is based solely on speculative nature. Driven by positive sentiment but lacking real support from on-chain activity, it is likely that the price of XRP will only maintain during a consolidation phase, awaiting new signals from real investors.
Source: Santiment
The NVT index warns of undervaluation, but...
The NVT ratio of XRP has suddenly decreased by 18.43% within 24 hours, down to 237.16, reflecting a cheaper market value compared to the actual value based on transaction volume. However, without sustainable growth in the number of daily active addresses or continuous transaction processing capability, this decline is only temporary. It may merely reflect random fluctuations in price and volume, and does not yet accurately represent the true potential of the network. A significant change in the NVT ratio needs to be accompanied by strong consolidation across all on-chain activity to achieve higher reliability.
Source: CryptoQuant
Long-term holders are still profitable, but can they sell in the near future?
The current Long/Short MVRV spread is +20.99%, indicating that long-term investors are enjoying relatively high profits compared to short-term investors. This level of profit often creates selling pressure if prices cannot surpass key resistance levels. As XRP approaches significant resistance, holders may be tempted to take profits, especially in the context of a slowing uptrend. The maintenance of the current structure will depend on the ability of long-term holders to remain patient or to start taking profits early if negative reaction signals from the market appear.
Source: Santiment
Can XRP Bulls overcome resistance and confirm the optimistic sentiment?
The positive sentiment of the XRP buying community, the rising social trend, and long-term expectations all indicate the potential for a breakout. However, the weakness of this scenario is the still weak on-chain activity and the imminent liquidation risk. To confirm strength, investors need a decisive breakout above $2.35, while also attracting outstanding volume. Failing to overcome resistance or protect the $2.10 level could quickly reverse market sentiment, pushing XRP back into accumulation. Without a clear breakout, positive sentiment alone will not be enough to sustain long-term growth.
Source: https://tintucbitcoin.com/xrp-huong-toi-2-350-usd-muc-tieu-va-chien-luoc/
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