XRP investors cash out $1.600 billion amid market stagnation
|XRP investors cash out $1.6 billion in profit-taking amid six weeks of stagnation, with long-term holders providing key support against further decline.
XRP investors have shown increased frustration over weeks of price stagnation, with profit-taking activity surging to $1.6 billion in just 24 hours. Nearly 695 million XRP tokens were sold, signaling growing dissatisfaction among holders. This trend, common during prolonged consolidation phases, often results in heightened selling pressure and limited upward movement.
Despite this selling activity, long-term holders remain resilient, providing a stabilizing force for XRP. The MVRV Long/Short Ratio indicates that these investors are still sitting on profits, which helps prevent sharper declines in value. Their continued confidence plays a key role in maintaining critical support levels, even as short-term traders exit their positions.
The ongoing consolidation period has limited XRP's growth potential, with repeated failures to break through key resistance levels. For weeks, the token has remained trapped within a narrow price range, unable to regain momentum. Without a significant shift in market sentiment, this pattern of sideways movement is likely to persist.
However, increasing selling pressure could jeopardize XRP's support zone. If this level fails to hold, the market outlook could quickly shift from neutral to bearish, leading to potential losses for investors. Long-term holders’ resilience remains the critical factor in maintaining stability amid the current market conditions.
In summary, XRP continues to face challenges due to ongoing investor frustration, rising profit-taking, and stagnant price movement. While long-term holders provide a safety net, any significant increase in selling pressure could disrupt the delicate balance currently holding the market steady.
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