Investors in XRP are experiencing frustration because prices have remained unchanged for weeks. Recently, XRP investors cashed out $1.6 billion in profit-taking in a single day. That’s almost 695 million XRP tokens sold.
This trend often occurs during extended times of price stability or market crash, resulting in more selling pressure and restricted upward movement.
Even with the selling activity, long-term holders of XRP continue to stay strong. They bring stability to the market, as shown by the MVRV Long/Short Ratio, indicating that these investors remain profitable. Their confidence keeps important support levels steady, even when short-term traders leave.
XRP’s growth is currently limited by the ongoing consolidation phase. The token has had difficulty surpassing important resistance levels and has remained in a tight price range for weeks. If market sentiment doesn’t change, this sideways movement will probably keep going.
The increasing selling pressure threatens XRP’s support zone. If this support fails, the market outlook may change from neutral to bearish, which could result in losses for investors. The strength of long-term holders is key to keeping stability in tough market conditions.
XRP is currently dealing with major issues stemming from investor dissatisfaction, heightened profit-taking, and flat prices. Long-term holders provide stability, but any rise in selling pressure might disrupt the current balance and harm the market.
According to Ripple President Monica Long in a Bloomberg interview on Tuesday, an XRP exchange-traded fund (ETF) could soon become a reality as favorable U.S. crypto regulations bear well for local businesses.
