XRPThe price of ‘s price fell from $ 2.41 to $ 2.23 in the last two weeks, as long-term investors reduced their positions by 34 percent, seeking balance in the critical support zone. Daily trading volume exceeding $150 million shows that despite strong selling pressure, market participants have started to reposition the altcoin. Analysts evaluate that institutional investors may have entered the accumulation process at current levels.
The Search for Direction After Corporate Liquidation
The selling wave that started in mid-October caused the XRP coin to be stuck in the $2.31–2.47 range. Although the price lost 2 percent in value to $2.20 in the October 16-17 transactions, the purchases in the US trading session stabilized the price around $2.20. High volume returns, especially from the $2.31 level, indicate that algorithmic buying has come into play.
In-blockchain data Hodler Net Position Change It reveals that the indicator decreased from 163.7 million to 107.8 million coins. The decline in this indicator is a reflection of the risk reduction tendency of institutional investors. However, the increase in open position volume in derivative markets to 1.36 billion dollars indicates that investors have started to take long positions again.
Technical Outlook on XRP: $2.47 Key Resistance Point
According to technical indicators, XRP may tend to stabilize around $2.20 in the short term. Volume clusters indicate strong buying interest in this region, while momentum indicators have moved from neutral to close to the oversold region. A clear breach of the $2.47 level could invalidate the bearish view in the short term and pave the way for a potential rise to $2.55.
The fact that funding rates have turned positive indicates that short positions have begun to be resolved. Analysts ETF He predicts that a new momentum may be seen in XRP demand towards the end of the quarter, along with the expectations and the loosening of monetary policy in the USA.
CryptoAppsyAccording to the data provided by XRP, it is struggling to stay above the $ 2.20 threshold, falling 7.37 percent in the last 24 hours. Data reveals that the price has decreased by 20.67 percent in the last 7 days.
