XRP's price has been consolidating for six weeks without reaching its all-time high. Frustrated investors are taking profits, leading to $1.6 billion in realized profits from 695 million XRP sold. This trend reflects growing dissatisfaction and could affect XRP's price further.
Selling pressure has prevented upward momentum, but key support levels offer a degree of stability. Long-term holders, still in profit, are crucial for XRP's health as they demonstrate resilience despite market stagnation.
XRP trades at $2.31 within a tight range. The continuation of sideways movement has stopped significant price growth. Increased selling pressure might challenge the $2.00 support, potentially leading to a price drop to $1.50, jeopardizing its bullish outlook.
