June turned out to be stormy for Ripple, Altcoin did not show a clear direction, and bear signals were determined by its price and mood.
In July, Ripple prices are possible due to the growing influence of large investors.
Can XRP whales change the situation
The activity of large investors has become a key factor over the past ten days. XRP whales accumulate significant amounts, despite volatility. Addresses from 10 million to 100 million XRP purchased more than 610 million tokens worth more than $ 1.33 billion.
This accumulation occurs against the background of market uncertainty, and the influence of large investors can compensate for the instability of small players. Whales demonstrate confidence in the long -term prospects of Ripple, even while the market cannot gain impulse.
The indecision of small investors enhance the macroeconomic conditions that led to a protracted descending trend. ETF launch delay in XRP leaves investors in a limbo. This is echoing with wider uncertainty in the market. Temuji Louis, general director of Wanchain, noted that Ripple may have difficulties with the launch of ETF.
The XRP market is affected by a change in a clean position on exchanges, which reflects the uncertainty of retail investors. In the last month, sales and purchases on exchanges were unstable, without a clear trend. This indicates the uncertainty of investors in the future XRP, reinforced by delays in the launch of ETF.
Ripple price is faced with a descending trend
The price has been in a descending trend for more than a month, staying above the support of $ 2.13. The inability to break through the resistance of the trend line promises the continuation of the decline in early July. The lack of positive dynamics makes XRP vulnerable to further weakening if a significant catalyst does not appear. The descending trend may continue if the price remains between $ 2.23 and $ 2.13.
Nevertheless, historically July was successful for XRP in terms of profitability. Median monthly yield this month is 6.91%. If the pattern is repeated in this July, the token can break through the resistance by $ 2.23 and grow to $ 2.32. However, if whales change the strategy and begin to sell, the price may fall. The loss of a critical support level of $ 2.13 can lead to a sharp decrease to $ 2.02. This will cancel any positive forecasts for Ripple.
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Source: Cryptocurrency
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