according to the materials of the site - By U_Today

According to Glassnodedata, the level of $2.81 currently serves as a key support level for the XRP token.

At this level, about 1.7 billion tokens have been accumulated.

The analysis is based on the heatmap of XRP value distribution from Glassnode, which shows at what specific level holders have accumulated their tokens.

Glassnode claims that this visualization provides a clearer understanding of the correlation between specific price levels and the density of accumulated supply. Such data can be useful in determining potential levels of support and resistance.

The heatmap shows that another large cluster of supply is at the level of $3.26. At this level, more than 1.05 billion tokens have been accumulated.

In comparison, according to Glassnode, in the range of $3.57–$3.58, only 2.9 million tokens have been accumulated.

After an impressive rise in the first half of July, XRP is struggling to regain its bullish momentum.

According to CoinGlass data, the trading volume of XRP derivatives has decreased by 44%, while open interest (OI) has dropped by 82%.

Currently, this alternative cryptocurrency associated with Ripple has fallen by 15% compared to its current historical high of $3.67, recorded on July 18.

XRP briefly fell below the critically important level of $2.81 on August 2, but has since managed to recover.

Since the beginning of the year, XRP has risen by more than 50%, significantly outperforming Bitcoin. Last year, it increased by more than 237%.



$BTC , $XRP , $SUI

#MarketRebound , #Cryptomarketnews



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