The price of XRP has encountered the struggle for recovery in recent weeks, and wider market conditions remain bear. Despite these problems, XRP managed to resist the $ 2 mark.
This stability is largely due to long -term holders (LPIS), who work to prevent the drop in prices below this key level.
XRP investors use low prices
The metric of housing, which monitors the frequency of transactions, has been constantly reduced since February. This suggests that fewer tokens pass into their hands, which is a sign that long -term holders accumulate more XRP at lower prices.
This trend can be a positive indicator showing that these investors believe in the future XRP potential and position themselves for long -term income. Despite the accumulation of LP, market moods remain mixed from a wider bear environment.
From a technical point of view, the relative force (RSI) index for XRP stuck in the bear zone over the past two months. Despite the fact that he sometimes burned over 50 neutral line, he mainly remained lower, which signals the absence of a bull impulse. This constant bear trend opposed the efforts of long -term holders to increase the price.
The inability of the RSI support the impulse suggests that the XRP is still trying to get traction. This is aggravated by general bearish market conditions that kept the mood of the investor.
XRP holds the price
At the time of writing, the XRP is traded at 2.08 dollars, holding above the support level of $ 2.02. This indicates that Altcoin stabilizes, despite the recent fall. Support from long-term owners, apparently, retains the price of afloat, preventing further decrease.
Nevertheless, mixed signals from technical indicators and market moods suggest that XRP will probably hang under a resistance of $ 2.16 until stronger bull signals appear. This price action associated with the range can be preserved by leaving investors vague about the next large move.
If the XRP cannot hold support in the amount of $ 2.02, Altcoin can fall to $ 1.94, or, possibly, even in US dollars. The fall under these levels deprives the invalid current bull prospect and can increase losses for investors, signaling the further weakness of the market.
