Ripple (XRP) demonstrates confident growth in the last days. This is facilitated by a decrease in liquidation activity among long -term holders (LP).
Oachin-data show a noticeable slowdown in the movement of Ripple (XRP) tokens among long-term holders (LP). This suggests that LTH prefer to keep their assets, and not sell them. Such a trend may promise a possible steady increase in prices in the near future.
LTH roll up Ripple sales
According to Glassnode, the LiveLance metric for XRP has steadily declined from June 5, falling by 1% to 0.809 to June 8. The indicator monitors the movement of previously slept tokens. An increase in this indicator suggests that more inactive coins are moved or sold. On the contrary, a decrease in Liveliness suggests that long -term holders accumulate or move coins. LTH are considered the main asset support, so their behavior strengthens the optimistic forecast for Ripple.
When LTH move their assets from exchanges, this is usually considered as a bull -free accumulation signal. This positive shift in the behavior of holders is also reflected in the XRP derivatives market. This is confirmed by a steady positive financing rate from June 6. At the time of writing, it is 0.0080%.
This mechanism provides a balance between long and short positions in the market of unlimited futures contracts. Positive values ​​indicate the dominance of long positions and mean that the price of the contract exceeds the spare price. This means that more traders buy a coin with the calculation of sales at a higher price and are ready to pay a bonus for maintaining long positions.
XRP forms a golden cross
Analysis of the daily schedule of Ripple promises the price possible bull -turn. The MACD indicator indicates the formation of the Golden Cross. This happens when the MACD line (blue) is prepared to cross the signal line (orange) from the bottom up. When the MACD line is located above the signaling, this indicates a bull impulse and may mean further price growth.
If the Golden Cross is successfully formed, this will confirm the XRP rally and can raise its price above the $ 2.29 resistance level to $ 2.50. On the other hand, the strengthening of the positions of the bears can sell the price of altcoin to $ 2.08.
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Source: Cryptocurrency
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