XRP Sees Accumulation Amid Price Stagnation Below $2
- XRP is currently trading around $1.80, below its 200-day moving average of $2.54.
- Since the start of the year, XRP has added a net total of 42 “millionaire” wallets, defined as those holding at least one million XRP.
- The Sharpe Ratio for XRP is approximately 0.034, indicating minimal returns relative to volatility.
- Decentralized exchange (DEX) usage on the XRP Ledger reached a new high with about 1.014 million transactions in a two-week moving average.
- The proportion of XRP held on exchanges is in a “bottom zone,” suggesting reduced selling pressure.
Despite XRP’s price stagnation, large holders are accumulating tokens, which may indicate potential market shifts as sell-side liquidity tightens. The increase in DEX activity also suggests growing utility within the ecosystem.
With whale accumulation and low exchange supply observed, XRP’s market dynamics could change significantly if demand increases while prices remain under $2.(Source)
