XRP has seen a price rebound recently, which is in line with a shift in investor behavior. The altcoin is benefiting from holders opting to HODL, providing support for a potential recovery in the coming days.
This shift in sentiment is key to reversing the losses seen in June and pushing XRP back above key barriers.
XRP Holders Mature
Addresses holding XRP for over 6 to 12 months have experienced a noticeable rise in concentration this month, up by 12.8% to 19.1%. This surge in mid-term holders indicates a strong level of conviction in the asset’s future.
The increase in long-term holders reflects the growing belief that the price will recover despite recent volatility.
Moreover, holders who have owned XRP for 3 to 6 months have shifted their behavior toward HODLing rather than selling. This maturity in investor sentiment suggests confidence that XRP’s price will rebound.
The rise in mid-term holders plays a crucial role in stabilizing the asset and supporting its price recovery.
Looking at the macro momentum, the Mean Coin Age (MCA) has shown a consistent uptick throughout this month.
The MCA reflects the behavior of long-term holders (LTHs), and its rise indicates that LTHs are choosing to accumulate XRP instead of selling. This is a positive sign, as LTHs hold significant influence over the asset’s price.
The increasing accumulation of LTHs further supports the bullish outlook for XRP. Since LTHs have the most substantial holdings, their decision to hold rather than sell ensures stability and helps support a recovery in the price.
This accumulation behavior is likely to help XRP regain its footing and potentially reach higher price levels.
XRP Price Needs To Breach Key Barriers
XRP is currently trading at $2.19, just below the crucial resistance of $2.23. Breaching this resistance level is vital for the altcoin to continue recovering from the losses seen in June.
If XRP manages to break through $2.23 and flip it into support, the next target would be $2.27.
If XRP price can sustain its momentum and hold above $2.23, it could continue rising and reach $2.32, fully recovering from June’s losses. This would mark a significant turning point in the recovery phase and set the stage for further upward movement.
However, if XRP fails to breach $2.23, it could remain consolidated between the $2.23 resistance and $2.13 support levels.
A drop below $2.13 would invalidate the bullish thesis, sending XRP back to $2.08, which would signal a reversal and further price decline.
Disclaimer
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