XRP’s value has recently declined despite heightened purchasing activity. Over the past day, Ripple lost local support at $3.07.
The price drop correlates with asset sell-offs by major holders, intensifying the downward trend.
Key Ripple Holders Shift to Accumulation
Investors are actively accumulating XRP, reducing the token’s net position on exchanges. This metric hit a five-month low, signaling a net outflow from trading platforms. Over the past week, over 312 million XRP worth approximately $950 million were purchased, indicating optimism about a potential rebound.
Heavy accumulation reflects confidence among retail and institutional investors in Ripple’s potential. Despite recent price dips, the hoarding trend suggests market participants are positioning for long-term growth.
The HODLer Net Position Change metric tracks movements in long-term holder (LTH) reserves. Recent data shows these investors began buying again after a period of selling. However, LTHs have yet to repurchase all XRP tokens sold in the past month.
Without substantial buy-side momentum, lingering bearish sentiment from LTHs could continue pressuring Ripple’s price. These stakeholders significantly influence price action, and their caution suggests market uncertainty. Absent buying pressure, XRP may face near-term valuation challenges.
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XRP Needs to Reclaim Support Levels
Ripple currently trades near $3.01 after slipping below the $3.07 support level. The decline stems from weakened bullish momentum and broader market negativity. Without clear catalysts, XRP may consolidate further as traders await stronger buy signals.
Incoming days could see XRP test the $2.91 support zone, potentially marking a two-week low. A breach below this level appears unlikely, with this range possibly serving as temporary consolidation territory. While price remains within this band, markets await clearer directional cues.
Should XRP recover above the $3.12 support threshold, it might recapture recent losses. This scenario depends on sustained investor accumulation and renewed optimism about price appreciation. Only under these conditions could Ripple target higher valuation levels.
Источник: cryptocurrency.tech
