๐จ $XRP in the Spotlight: Recovery or Reversal? ๐จ
๐ Exchange Balances Climb as Price Dips
๐ Whatโs Going On?
๐ XRP balances on exchanges have jumped from 3.26B โ 3.41B in just two weeks!
Thatโs a 4.4% increase, often a red flag โ investors may be preparing to sell. ๐
๐ง Price Update:
XRP is trading at $2.22, down 1%, despite ongoing demand in derivatives.
๐ง Key Metrics:
โข ๐ Network Activity: New XRPL addresses stuck below 5,000
โข ๐ Futures Open Interest (OI): Up 23.2% from June lows โ $4.61B
โข ๐ผ Long-term Support Levels:
โ- $2.20 (50 EMA)
โ- $2.18 (100 EMA)
โ- $2.15 & $2.07 (Recent Support Zones)
๐ก What It Means:
Rising exchange balances + low network growth = ๐จ bearish signs
Unless XRPL sees a renewed spike in activity, XRP may face more selling pressure.
๐ However, Ripple is quietly building its bridge to traditional finance through Ripple Payments & RLUSD. This could reignite demand โ but timing is everything. โณ
๐ข Watch These Zones. Stay Sharp.
Are we heading into accumulationโฆ or another wave of sell-offs?
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