XRP has seen its recent decline slow, allowing the altcoin some breathing room in a volatile market.
Investors appear to be taking advantage of these lower prices, accumulating XRP in large volumes in hopes of capturing future gains.
XRP Investors Move To Accumulate
The exchange net position change data highlights that the recent XRP accumulation is the largest in more than two years. This renewed interest suggests that market participants are confident in the asset’s potential recovery and are preparing for a price breakout.
Sponsored
Sponsored
Over the past month, investors have accumulated approximately 1.7 million XRP, reflecting optimism despite broader market uncertainty. Such strong accumulation at current price levels highlights a belief that XRP has room for growth and could soon test higher resistance levels.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
From a macro perspective, the Network Value to Transactions (NVT) ratio has spiked in the past 24 hours. This surge pushed the indicator to its highest point in two months, hinting that XRP’s network valuation is exceeding its transaction activity.
Historically, such spikes can signal that accumulation momentum is cooling in the short term. While sentiment remains bullish, a high NVT ratio can indicate overvaluation, potentially creating a temporary hurdle for XRP’s price trajectory in the near future.
XRP Price Is Looking At A Rise
XRP is currently trading at $2.83, positioned just below the $2.85 resistance. Thanks to the sharp surge in accumulation, the altcoin is looking to break out.
If XRP flips $2.85 into support, it could climb toward $2.95 and potentially breach $3.07. Crossing this milestone would signal renewed strength in market momentum and validate the confidence shown by long-term holders.
However, if XRP faces pressure from the elevated NVT ratio, it may struggle to maintain gains. A rejection at resistance could push the price down to $2.73, or even further to $2.64, which would invalidate the bullish outlook and extend the consolidation phase.
Source: https://beincrypto.com/xrp-price-two-year-high-accumulation/