What will happen to the price of XRP

The price of XRP has recently fallen, despite the growth of purchasing activity. Over the past day, Ripple has lost local support by $ 3.07

The fall in the price of Ripple is associated with the sale of assets with key holders, which increased the bear trend.

Some Ripple holders begin to buy

Investors are actively accumulating XRP, as can be seen in reducing the pure position of token on exchanges. The indicator has reached a minimum in 5 months, pointing to a clean outflow from trading platforms. Over the past week, more than 312 million XRP was bought in the amount of about $ 950 million. This indicates optimism regarding the possible restoration of price.

Strong accumulation indicates the trust of retail and institutional investors to the potential of Ripple. The price has recently declined, but the battery trend shows that investors are preparing for growth in the long run.

The indicator of the change of pure position of the Hodllers (Hodler Net Position) monitors the movement of long -term holders (LP). He shows that in recent days such investors began to buy after a period of sales. However, LTH has not yet bought all XRP tokens sold in the last month.

Without a significant increase in purchases, a bearish mood LTH can continue to put pressure on the price of Ripple. These holders play a key role in the movement of prices, and their indecision signals caution. The lack of purchasing pressure may press the price of XRP in the near future.

See also: October can be the most important month for XRP

The price of XRP needs to recover over support

Now Ripple is traded in the region of $ 3.01 after losing support at $ 3.07. The decline is associated with the absence of a bull impulse and a general negative situation in the market. Without a clear XRP catalyst, consolidation can continue while the market is waiting for stronger signals for the purchase.

In the coming days, XRP can test support at $ 2.91, which will potentially become a minimum in 2 weeks. The fall below this level is unlikely, and this range can serve as a time zone of consolidation. While the price remains in this range, the market will expect a more distinct direction.

If the XRP recovers above the $ 3.12 support level, it can play recent losses. This will be possible with active accumulation by investors and stable optimism about price growth. Only in this case, Ripple will be able to aim at higher levels.

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