600 million Ripple tokens ($XRP ) were sold by Whale in a single day.
The activity of long-term holders has reached its highest level in 7 months.
Resistance at $2.27 remains a major barrier to the next move.
The price of $XRP has increased.
From $1.94 to $2.24 in recent sessions, achieving a 15% increase, indicating a short-term recovery of the currency linked to Ripple. However, despite this rise, concerns are growing about its ability to maintain this momentum or capitalize on it.
Although XRP is currently trading at $2.24, its price has decreased by 2.15% over the past twenty-four hours.
Analysts tracking blockchain data say that major cryptocurrency holders have begun selling their positions, applying pressure on the altcoin as it approaches a key resistance level at $2.27.
Blockchain data shows that wallets containing between 100 million and a billion of $XRP sold over 600 million tokens within 24 hours this week, reducing their total balance to 7.7 billion XRP.
The value of the tokens sold exceeds $1.2 billion. This selling activity indicates increasing uncertainty among large investors - also known as whales - regarding XRP's ability to continue rising under current conditions.
Long-term cryptocurrency holders are trending downward.
'Consumed age' is one of the key market confidence indicators, measuring the activity of tokens held by long-term investors. This week, this metric rose to its highest level in seven months, indicating an increase in selling among long-term cryptocurrency holders.
These long-term holdings (LTHs) are often seen as stabilizing forces in the market, and their decision to reduce exposure may indicate a decline in confidence in XRP's long-term trajectory.
The magnitude of this shift is notable because these long-term holders typically refrain from selling during periods of volatility. Their decision to do so now adds additional downside risks and increases pressure on price stability.
As more #XRP long-term holders enter the market, selling pressure may exceed buyer demand, leading to a potential rebound.
The price faces strong resistance at $2.27.
Currently, XRP is trading below a resistance level that has remained steady for over a month. The $2.27 level has long been a major hurdle for the currency.
If XRP fails to break this level, the next potential move would be a return to the support level at around $2.13.
If sellers continue to dominate - especially those selling large amounts - the momentum needed to break $2.27 may not materialize. Without a decisive push above this level, XRP risks losing its recent gains and reverting to a downward path.
However, breaking above the $2.27 level could open the door to further gains, especially if this level turns into support. If this scenario plays out, the next resistance for XRP would be at $2.32, followed by a potential move towards $2.45.
But with market sentiment currently mixed, the chances of this bullish move remain uncertain.
Market expectations depend on whale sentiment.
The continuation of XRP's upward trend or reversal significantly depends on the behavior of its major investors.
If #الحيتان continues to exit its positions, retail demand may not be sufficient to absorb the supply, limiting the potential for further price increases.
The near-term future of the altcoin depends on how it interacts with the resistance area at $2.27. Failure at this level, along with ongoing selling pressure from long-term investors, may lead XRP to test support levels.
On the other hand, a sustained breakout, although less likely in the near term, would provide bulls with an opportunity to regain control. #NFPWatch #REX-OSPREYSolanaETF #DYMBinanceHODL