XRP Price Stalls – What’s Next for Investors?
XRP reached a new high of $ 3.41 on January 16. However, there has been a distance since then, facing the resistance of $ 3.27, and finding support at a price of $ 2.94.
Although the side movement shows the relative balance between trading pressure, the data on the chain shows that the downlink breakthrough may occur within the next few weeks.
The surge in profit may threaten new income
XRP experienced a sharp growth of 500 % in November 2024. This is the Rally and Donald Trump’s 2024 Presidential election victory. After that, the tokens were slightly corrected, and settled between $ 2.6 and US $ 2.0 before bouncing.
By January 16, XRP broke the resistance of $ 3, Reached a new climax $ 3.41. Since then, within the scope of the transaction scope of Congzhaner, this indicates that neither the buyers and sellers have dominated. However, the evaluation of the chain performance of XRP’s chain of XRP implies that it is increasing to see the pressure, which may lead to a decline in prices in the next few weeks.
For example, the market value of XRP’s market value (MVRV) market value (MVRV) market value of XRP on multiple mobile average evaluation shows that Altcoin is overestimated, which may prompt the holder to sell profits. According to Santiment, when writing this article, the 7 -day and 30 -day MVRV ratio of token is 1.50 % and 14.17 %, respectively.
The asset’s MVRV ratio is determined to be overestimated or underestimated by measuring the relationship between its market value and the realization value. When the ratio is negative, the market value of assets is lower than the realistic value. This shows that compared with the price they initially paid for it, the market underestimates cryptocurrencies.
on the other hand, Like XRPWhen the ratio is positive, its market value is higher than the realization value, which indicates that it is overestimated. This indicator shows that the current price of XRP is $ 3.10 higher than the acquisition foundation of many holders. This may cause them to sell their own shares to profit, thereby imposing pressure on the price of the tokens.
In addition, action XRP whale It may cause this downward pressure. According to the address of XRP whales holding the XRP whale between 10 million and 100 million tokens, its shareholding has decreased by 1 % since reaching the highest level of history. In the past month, this group of large investors has sold 60 million XRPs, worth more than $ 180 million.
When the whale reduces such shareholding, it will put pressure on the price of assets, especially when the market is trying to absorb sales. If this trend continues, XRP will decline in the next few weeks.
XRP price prediction: Will it push up or fall to 2.13 US dollars?
Due to the surge in profit activities, the subdivision below the horizontal channel will be far from its historical highest level. In this case, its price may be reduced to less than $ 3, and The trend of $ 2.13.
However, if the profitable booth and XRP holder resume accumulation, this may push the price of the token to a resistance of $ 3.27, and its historical maximum price is $ 3.41. If the demand is strong enough, it may even exceed the peak of this price to record a new high.
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