XRP is approaching the historical maximum

XRP has grown significantly and approaches a new historical maximum. Now altcoin costs $ 3.25, which is only 4.69% lower than the previous record of $ 3.40.

We analyze onchain-metrics and understand whether the XRP can update the historical maximum or encounter colossal sales.

XRP investors begin to sell

Over the past ten days, XRP holders have sold more than 540 million tokens worth about $ 1.74 billion. This sale probably provoked a breakthrough of $ 3.00: many investors decided to record a profit, fearing a price reduction.

Such a sale can slow down prices and prevent the XRP to reach new heights. Investors evaluate the risk of further changes, and the mood around the XRP becomes more careful. The question is whether they will continue to fix profit or strong support will stop further fall.

The general macroeconomic situation for the XRP remains unstable. The change in the pure position of the Hodler reached a six -week minimum, this suggests that long -term holders accumulate tokens more slowly than before. These holders significantly affect the price of XRP. If they start selling, the balance of power in the market can change and increase pressure on the XRP.

XRP is ready for new heights

XRP is now trading at $ 3.24, near a historical maximum set at $ 3.40. An increase of 35% per week attracted the attention of market participants, and many expect Altcoin to update the record. However, the recent sale can interfere with this, and if the bear’s mood intensifies, the price may return to $ 3.00. If this psychologically significant support does not withstand, the price can fall to $ 2.65.

If the market conditions remain favorable and new investors will continue to be interested in XRP, cryptocurrency will grow. Having overcome the resistance of $ 3.40, the token will rush to $ 3.80, establishing a new historical maximum and strengthening its market position.

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