Investors prefer to hold XRP, not sell. Thanks to this shift in moods, altcoin can continue to grow.
We figure out whether the XRP will get to play the losses of June and recover above key barriers.
Investors in XRP “grow up”
In June, addresses that hold the XRP for more than 6-12 months increased from 12.8% to 19.1%. Long -term investors are confident in the future of Altcoin. Holders who bought XRP from three to six months ago also prefer to accumulate cryptocurrency instead of sale. This suggests that the market is confident in the restoration of XRP.
The current trend confirms the Mean Coin Age (MCA) – the key indicator of the “age” coins on the network. The indicator is growing: large players accumulate, not fix profit.
Reducing sellers and the growth of long -term holders (LP) means that the pressure of the XRP price is less. If the accumulation trend continues, this may push altcoin to the exit from the sidewoman. However, a positive catalyst is required for confident growth.
XRP needs to overcome key barriers
At the time of writing, the XRP is traded at $ 2.19 – this is slightly lower than an important resistance level of $ 2.23. If Altcoin overcome this barrier, its cost will restore all losses of June. The next purpose will be a mark of $ 2.27, and then $ 2.32.
If the XRP cannot overcome $ 2.23, it will remain in the range between the resistance of $ 2.23 and the support of $ 2.13. The fall below $ 2.13 will cancel the bull script and send Altcoin back to $ 2.08.
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Source: Cryptocurrency
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