Boutique Media & consulting group

BTC
$99307
ETH
$3954
BNB
$724
XRP
$2.49
ADA
$1.17

XRP Long-Term Investors Questioning Breakout at $0.51

XRP recently fell below the key support level of $0.51, indicating short-term bearish momentum but leaving room for recovery as market conditions improve. The asset has shown resilience, suggesting it may soon regain value with stronger investor support.

Since August, XRP’s Mean Coin Age (MCA) ratio has declined cyclically, indicating wavering confidence among long-term holders (LTH). LTHs are crucial for price stability, and their cautious stance may reflect a reassessment of positions.

The declining LTH confidence could be concerning for XRP, but renewed interest from other market participants might aid recovery efforts. XRP’s falling Network Value to Transactions (NVT) ratio suggests healthier network dynamics, indicating value proportional to transaction activity.

Currently, XRP’s trading activity aligns closely with its value, signaling potential growth. The lower NVT ratio suggests a stable, growth-oriented position, with network fundamentals supporting valuation and a favorable environment for recovery.

XRP is trading just below the $0.51 resistance level, aiming to turn it into support. Despite LTH caution, other investors’ support might reestablish this level. Reclaiming $0.51 as support could drive XRP to $0.56 or higher.

Juan Pellicer, senior researcher at IntoTheBlock, noted that ongoing XRP development, such as the anticipated RLUSD stablecoin launch, could influence its price. Strategic initiatives could position XRP uniquely in the evolving DeFi space.

A successful breakthrough above $0.56 could signal recovery from September’s losses, while failure to reclaim $0.51 might lead to consolidation below these levels or even a drop to $0.47, challenging the bullish outlook.

Disclaimer: This price analysis article serves as reference only and should not be construed as financial or investment advice. Before making any financial decisions, please conduct your own research and consult professionals.

Sentiment: Neutral

Leave a reply

Leave a Reply

Film News