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XRP has faced fresh selling pressure despite a recent surge in trading volume, slipping below a crucial support zone. The token is currently trading at $3.04, after losing its $3.07 support level over the past 24 hours. This decline comes as major holders chose to offload their positions, fueling short-term bearish momentum.
Accumulation Signals Investor Confidence
Interestingly, retail and mid-sized investors continue to accumulate XRP aggressively. Exchange outflows have reached their lowest level in five months, reflecting large-scale withdrawals into private crypto wallets. Just in the past week, more than 312 million XRP, worth around $950 million, were acquired by holders, signaling strong optimism about a potential recovery.
This wave of accumulation highlights confidence in XRP’s long-term trajectory. While short-term sentiment remains cautious, the buying trend suggests investors are preparing for an eventual upside move.
Long-Term Holders Remain Cautious
Macro momentum for XRP is still mixed. Long-term holders, who offloaded significant amounts last month, have not yet re-entered the market despite recent shifts from selling to buying signals. Their reluctance to repurchase XRP indicates lingering caution, which could continue to weigh on price action in the short term.
Analysts warn that without a stronger wave of fresh buying, XRP may remain under pressure. Long-term holders remain a decisive force in determining whether the token consolidates or rallies.
Price Outlook: Support and Resistance Levels
At its current level, XRP risks retesting the $2.91 support zone, which would mark a two-week low. Analysts believe this level is unlikely to break, making it a potential consolidation range in the near term.
On the upside, reclaiming the $3.12 support could allow XRP to recover recent losses. Whether that happens depends on continued accumulation and improved investor sentiment following easing regulatory uncertainties after the Ripple vs. SEC case developments.
Market Watch
According to CoinGecko data, volatility has spiked around these key price levels, and traders are closely watching whether XRP stabilizes above $3.00 or dips further before a clearer trend emerges in the weeks ahead.
