XRP reached a new all-time high of $3.41 on January 16, but has since been trading within a range. Despite balanced buy and sell pressures, on-chain data suggests a potential downward breakout in the coming weeks.
The dramatic 500% surge in November 2024, fueled by Bitcoin's rally and Trump's election victory, was followed by a slight correction. Recent assessment indicates increasing bearish pressure, potentially resulting in a price drop.
XRP's MVRV ratios, reported by Santiment, show the token as overvalued, encouraging holders to sell for profit, increasing downward pressure on price.
Moreover, XRP whales reducing their holdings since the all-time high could further weigh down the token's price. If this trend continues, XRP could see a downtrend soon.
Источник: nl.beincrypto.com ↗