Nearly 50% of all XRP Supply is Now in Loss as Price Settles Under $2
🔥 Key Takeaways
XRP’s Price Struggles to Recover
XRP remains locked in a persistent downtrend after another failed breakout attempt. Despite repeated recovery efforts, the altcoin continues trading below key resistance, reflecting fading investor support. The price has settled below $2, a crucial level that XRP has struggled to surpass in recent weeks.
Almost 50% of XRP Supply is Underwater
On-chain data shows a sharp increase in selling pressure, which has led to a significant portion of the XRP supply being sold at a loss. Almost 50% of the total XRP supply is now in loss, indicating weakening investor confidence. This is a concerning sign, as it suggests that many investors are losing faith in XRP’s ability to recover.
Increased Selling Pressure Raises Concerns
The increase in selling pressure has raised concerns that XRP may struggle to reverse its trend. Despite repeated recovery efforts, the altcoin has failed to gain significant traction, leading to a decline in investor confidence. If XRP is unable to break above key resistance levels, it may continue to trade in a downtrend, leading to further losses for investors.
Conclusion
XRP’s price struggles and increasing selling pressure have raised concerns about the altcoin’s ability to recover. With almost 50% of the total XRP supply now in loss, investor confidence is weakening. If XRP is unable to break above key resistance levels, it may continue to trade in a downtrend, leading to further losses for investors.
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