In Brief

• XRP price is in a gradual uptrend, targeting a close above $0.56, but this may take some time.
• Long-term holders have suddenly begun moving their holdings around, pulling away from the pattern.
• Participation is also consistently declining, which suggests liquidity could also be taking a hit.

Although Ripple (XRP) price may not have been among the best-performing cryptocurrencies this quarter, it is still in an uptrend.

This uptrend, however, may halt for a while as the shaking conviction among XRP holders could cause a price dip.

 

Are Ripple Investors Skeptical?

XRP price, like any other token in the crypto market, tends to be heavily impacted by the actions of its long-term holders (LTH). Their accumulation tends to drive the price up, whereas selling causes deep drawdowns.

In the case of the Ripple native token, these long-term investors have a pattern of moving their assets monthly, which has been priced at this point. However, recently, the age consumed metric, which multiplies the total volume moved with the time since it was last moved, has shown spikes in the last few days.

These spikes, being out of the pattern, suggest that XRP LTHs are moving their holdings around during uncertain market conditions. This could be their attempt to sell their holdings to secure profits or offset losses.

Regardless, the altcoin could face a bearish impact on this development.

Furthermore, XRP holders’ total participation has also come down considerably. The total number of investors conducting a transaction on the network started declining in December 2023.

Get to know Godleak

Godleak crypto signal is a  service which provide profitable crypto and forex signals for trading. Godleak tried to provide you signals of best crypto vip channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Godleak crypto leak service have multiple advantages in comparision with other services:

•  Providing signal of +160 best crypto vip channels in the world
• Using high tech bot to forward signals
• Without even a second of delay
• Joining in +160 separated channels on telegram
• 1 month, 3 months , 6 months and yearly plans
• Also we have trial to test our services before you pay for anything

For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features

Join for Free

☟☟☟☟☟

https://t.me/Godleakbot

Also you can check the list of available vip signal channels in the bot. by pressing Channels button.

   &nbsp    

This decline has continued to date, which is a negative sign for the cryptocurrency.

The decline in active addresses shows that participation is down, which is a bearish development for the XRP price.

XRP Price Prediction: Fall Back to Key Support

XRP price trading at $0.53, managed to secure the 23.6% Fibonacci Retracement level as support. This level is also known as the bear market support floor and staying above it during bearish market conditions prevents excessive drawdowns.

This level marked at $0.51 is the likely target for the altcoin. The aforementioned factors, should they initiate a decline, could bring XRP price down to this price point. Losing it would also mean losing the support of the uptrend line sending the altcoin to $0.50 or lower.

However, if the broader market cues remain in favor of gradual uptrend, XRP price could prevent a drawdown and continue rising. As a result the bearish thesis would be invalidated and the altcoin could rise to $0.56.