XRP Market UpdatePositive
Indicators for XRP:
•Whale Activity: XRP's 90-day moving average of whale flows saw a positive trend beginning in May, indicating renewed interest from larger investors. This could set the stage for a potential breakout in Q4.•
Wallet Growth:
The number of wallets holding over 1 million XRP reached an all-time high, showcasing a growing commitment from significant holders. Additionally, mid-tier wallets (those holding between 10,000 and 1 million XRP) increased by 6.2%, suggesting strong long-term holder confidence.
Price Movement:•
After reaching an all-time high of $3.40 in January, XRP is currently trading at $2.17. While it has shown modest returns over recent months, it has consistently closed above the $2 mark in every monthly candle since December 2024.
Trading Volume Decline:•
Despite the positive indicators, Q2 trading volumes for XRP on Binance have dipped to their lowest levels since August 2020. This decline points to reduced market participation and engagement.
