XRP is currently valued at $3.25, just a few percent below its peak of $3.40. The impressive price increase over the past week, reaching 35%, has attracted the attention of many traders, but recent large sales raise questions about the future developments.
Over the past ten days, token holders have sold over 540 million XRP worth about $1.74 billion. Such a large-scale liquidity exit was likely caused by breaking the psychological level of $3.00, which many considered an opportune moment to take profits. As a result, the upward momentum may weaken, and uncertainty may grip the market.
At the same time, long-term investors have become noticeably slower in increasing their token holdings. According to the latest data, the net HODLer position has fallen to a six-week low. This signals that large holders are cautious and are in no hurry to buy more XRP. If some of these players decide to follow the example of short-term traders and start selling assets, the pressure on the market may increase.
At the moment, XRP is holding positions around $3.24. If buyers manage to overcome the resistance at $3.40, we can expect growth to a new target in the region of $3.80, which will open the way to updating the historical maximum. However, another scenario is not excluded: if the sell-off continues, the altcoin risks returning to the support at $3.00. The loss of this mark can lead to further decline - up to $2.65.
The situation is complicated by general macroeconomic instability. Despite the optimism of some traders, the market is still vulnerable to any strong fluctuations in sentiment. Therefore, investors are closely monitoring the balance of tokens on exchanges and the behavior of large holders, who can influence the direction of the rate at any time.
For those monitoring the situation, it is important to consider both possible scenarios: continued interest from new investors and sustainable growth, or increased sell-offs and price correction. The final direction will become clear in the coming days - much depends on the ability of buyers to hold psychologically important levels and prevent massive profit-taking.
Those who want to stay up to date with all the news about XRP and other cryptocurrencies should join communities of like-minded people and follow the analytics of professionals in order to react in time to sharp market changes.