XRP price increases by 10%in a week, while long-term investors reduce sales
XRP price increases by 10%in a week, while long-term investors reduce sales
- new XRP addresses reach a two-week high.
- The Liveliness Index falls to 0.81 and signals reduced sales pressure.
- RSI at 60.10 shows strong purchase impulse.
XRP has increased impressive 10% last week and is traded at $ 2.32 at the time of writing.
The increase takes place in the course of a broader market recovery, while traders return and long-term investors refraining from selling.
Source: Coinmarketcap
Market data indicate that fresh medium inflows and reduced sales pressure are the main factors behind the latest momentum of XRP.
If the current trends should stop, the token could soon test higher price levels, although there are volatility risks.
While large cryptocurrencies stabilize, the relative strength of XRP could position it as one of the old coins that are increasingly in focus in the coming weeks.
New XRP addresses reach a two-week high and increase market activity
This increase indicates growing interest of new participants, since inflows of fresh funds support the price movement of XRP.
An increase in newly created addresses often signals an increased market activity that can add further stability for the upward movement of an asset.
The growing number of new addresses indicates that XRP not only attracts existing crypto investors, but also new market participants who create a wider user base during this recreation phase.
In addition, the decline in the Liveliness Index from XRP to 0.81, the lowest value since December 1, that long-term investors (LTHS) are foreseen or selling of their tokens.
A falling Liveliness Index typically reflects an increasing trust of investors, which indicates a more resilient market structure for XRP.
XRP investors show trust in reduced sales pressure
The behavior of the XRP LTHS has played a significant role in the program of the tokens.
LTHS, defined as addresses that XRP has been holding for more than 155 days, have significantly reduced their sales activity in the past week.
This reduction in sales pressure creates a supportive environment for price gains and strengthens the bullish momentum of the financial value.
Historically, lower liveliness values are associated with times of greater price behavior, since a lower token circulation often leads to a reduced offer pressure on the market.
The recent decline to 0.81 further underlines the growing trust among investors that XRP could maintain its increase.
If this trend continues, the ability of XRP to preserve long-term investor interests could become a decisive factor for future price development.
XRP RSI increases to 60 and aims at resistance at
Technical indicators also indicate a positive mood. The relative strength index (RSI) of XRP has risen to 60.10 in the daily type and confirms the continued bullish momentum.
The RSI pursues the purchase and sales strength, which ranges from 0 to 100. Typically signal values over 70 overbauing, while values under 30 indicate that the asset is oversold.
With a value of 60.10, XRP remains in a strong purchase phase, although it is not yet in the overbought area.
If the purchase pressure stops and XRP breaks up the current resistance at $ 2.29, analysts suggest that it could increase to the $ 2.50 mark.
A persistent interest of new participants in combination with continued confidence of existing owners could play a crucial role in maintaining the momentum.
If the sales activity is used again, there is a risk that XRP will return recent profits with a potential decline back to the support zone of $ 1.99
Traders monitor these levels exactly to estimate the next significant movement.