XRP is trading sideways: The market is uncertain, but long-term investors are hopeful.

XRP is currently trapped in a sideways movement range following a 7% increase on Monday. This stagnant price action indicates that uncertainty prevails in the market and there is no clear short-term direction between buyers and sellers.

Technical Indicators Reflect Uncertainty

The stagnation in price movement is also supported by technical analysis. XRP's Relative Strength Index (RSI) has been hovering near the neutral 50 level for a while, indicating that buying and selling pressures are balanced. Recently, the RSI was at 49.97.

Additionally, the Average True Range (ATR) indicator also points to decreasing volatility. The ATR, which has dropped to 0.101, reveals that the market is losing momentum and investors are acting cautiously.

Long-term investors are showing a strong stance.

According to Glassnode data, XRP's 'Activity' metric has dropped to the year's lowest level of 0.808. This indicates that XRP tokens held for a long time have not been sold, and long-term investors are maintaining their positions.

The decline in the activity metric indicates that investors prefer to hold onto tokens rather than move them, and this strategy shows that confidence in XRP continues. This situation could lay the groundwork for potential future increases.

Are bullish signals strengthening?

The continued accumulation by long-term investors and the increasing risk appetite in the broader crypto market are creating a positive environment for XRP. An increase in demand could lead to the price exceeding the $2.21 resistance and rising to $2.29.

However, this scenario is only valid if support levels are maintained. Otherwise, profit-taking could pull XRP back to the $2.08 and then to the $1.99 support level. Losing this level could deepen the downward pressure.

Conclusion: XRP is in a sideways trend, but accumulation could be a bullish signal.

XRP is currently trading in a directionless price range. However, the ongoing interest from long-term investors and potential positive changes in the market keep the possibility of an upward breakout alive in the coming period. While a cautious outlook persists in the short term, underlying accumulation signals may be promising for bulls.

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