XRP remains around $3, but whales have sold off $2.1 billion, leaving $2.48 as a key support level.
On-chain data shows that $2.80 serves as a temporary support level, with significant accumulation below $2.48.
As XRP consolidates between $2.77 and $3.32, analysts are tracking the breakout level of $3.20.
XRP's recent performance is really noteworthy!
Currently, XRP's price is steadily hovering around $3, having increased by 5% in the past 24 hours, showing considerable momentum.
Although XRP has fallen 9% in the past week, there is still an 18% gap from the historical high of $3.65 set on July 18, this small rebound brings a glimmer of hope to the market ✨.
It is worth noting that during this round of price increase, large buyers have entered the market, driving trading volume to exceed $110 million during peak times, indicating that market activity remains relatively high.
However, the upward momentum seems a bit 'stifled,' as sellers triggered profit-taking after breaking $3.03, leading to a brief price pullback and a weakening of overall momentum.
In the past 24 hours, XRP's price has fluctuated between $2.83 and $3.03, appearing somewhat cautious.
From a longer-term perspective, XRP has entered a consolidation phase, with price fluctuations between $2.77 and $3.32, as the market awaits the next clear signal.
Overall, while XRP has its ups and downs, the activity of large buyers and solid support ranges add points of interest to the future market. Investor friends, don’t forget to keep a close eye on market dynamics and seize opportunities! 🚀📈
On-chain indicators show key support levels.
Recently, on-chain big data analyst Ali Martinez provided important observations about XRP, offering investors considerable reference value 📊. Data shows that XRP's current market structure is actually supported by strong historical accumulation zones.
Specifically, around $2.80, 1.8 billion XRP were bought, accounting for 2.81% of the total circulating supply.
This range has become a buffer zone for XRP's current price, acting as a protective wall for the market, temporarily preventing significant price declines.
However, investors cannot be overly complacent. Stronger support is below $2.48, where 1.41 billion XRP were traded, accounting for about 2.2% of total supply.
In other words, this price level represents another relatively strong defense line, and if it is breached, the market may experience more intense fluctuations and volatility 📉.
However, it is important to note that buying pressure between $2.80 and $2.48 is relatively thin, meaning that if selling pressure suddenly increases, XRP may quickly slide down, lacking sufficient buying support, resulting in intensified price fluctuations.
In addition, Ali also mentioned a more concerning technical signal—the market value to realized value (MVRV) ratio recently showed a 'death cross' ⚠️.
This is a typical bearish signal, indicating that unrealized losses for holders have increased in the short term, which may lead to intensified selling pressure.
This also suggests that XRP may face deeper adjustment risks in the short term, and investors should remain vigilant, avoiding blind chasing of highs and managing risks well.
In summary, although XRP currently has key support levels to protect it, the presence of the 'death cross' and weak buying pressure reminds everyone that market volatility should not be underestimated.
Pay attention to on-chain data and technical indicators to better grasp the investment rhythm. How XRP performs in the coming days is worth our continuous attention 📈👀.
If you want to learn more about the latest XRP developments and in-depth analysis, be sure to keep following us to gain insights into market trends! 💡🔥
Focus on resistance levels and support levels.
Recently, market analyst CRYPTOWZRD shared the latest views on XRP, providing investors with some very useful reference points 📊.
He pointed out that XRP and the XRP/BTC daily closing prices are both in the upward zone, indicating that bullish momentum still exists in the short term, and the market atmosphere leans towards optimism 🌈.
However, the subsequent resistance levels are also critical. CRYPTOWZRD mentioned that XRP currently faces resistance around $3.30 and $3.65.
If it can successfully break through $3.65, it will mean XRP has reached a new high, which is very important for subsequent price strengthening 📈.
Of course, support levels should not be ignored either, with the key daily support level at $2.80, and the intraday support level at $2.83. These two points are the defensive lines that investors need to closely monitor, determining whether the price can remain stable in a higher range 🛡️.
In the short term, the trading pattern depends on the key level of $3.20. If the price confirms a breakout above $3.20, market sentiment may be further boosted, pushing the price towards $3.23.
Conversely, if this level is not maintained, the price may consolidate near the support area below, entering a phase of fluctuation 🔄.
At the same time, another analyst, CW, added more details on the social platform X. He pointed out that after the liquidation of highly leveraged long positions, XRP is currently in the process of closing short positions.
CW specifically reminded that if the price falls to $3.06, it may trigger a wave of short position liquidations, leading to intensified price fluctuations in the short term, so investors need to be vigilant ⚠️.
In summary, XRP is currently in a key stage of a tug-of-war between bulls and bears, with resistance and support levels intertwining to influence price movements. Investor friends, when operating, it might be worthwhile to pay attention to these key levels, manage positions well, and avoid blindly chasing or panicking.
The market is ever-changing; rational analysis and timely strategy adjustments are key to winning in the market 💡. We will continue to monitor XRP dynamics, bringing you in-depth analyses and accurate tips at the first opportunity, helping you progress steadily! 🚀✨
Whale selling intensifies market pressure.
Since XRP peaked in July, market dynamics have changed drastically! Large XRP whales suddenly adjusted their strategies, selling off over 700 million XRP in one day, worth $2.1 billion 💸.
This wave of large-scale selling immediately intensified market selling pressure, causing many small retail investors to start feeling anxious and choosing to exit their positions, creating a strong wait-and-see sentiment 👀.
At this time, XRP's trend coincides with a period of increased activity in the entire altcoin market, with the cryptocurrency atmosphere heating up 🔥. However, the global economy is still troubled by inflation, and central bank policies are becoming cautious, leading to relatively cautious capital flows, which adds uncertainty to the subsequent performance of XRP and altcoins ⚠️.
Overall, the large movements from whales have put short-term pressure on the market, but they also provide rational investors with opportunities to observe and position themselves. Keep an eye on market fluctuations, manage risks well, and whether XRP can turn the tide in the future is worth our continuous attention 📈✨.