The price of XRP is gradually increasing, but market activity and investor actions raise genuine questions. What are the current trends, and what could they mean for the future of XRP?
Funding and Market Activity
Currently, the funding for XRP has turned positive, a level not seen since the beginning of the year. This indicates that traders are actively taking long positions, reflecting confidence in price growth. However, such a situation can be risky, as market overheating may lead to a sharp decline if downward price movements become too severe.
Declining Activity of XRP Addresses
In June, the number of active XRP addresses significantly increased, coinciding with short-term price growth. However, since the beginning of July, wallet activity has cooled off, which may indicate that the price increase is driven by large investors rather than mass purchases from retail clients. This trend may negatively impact the sustainability of the growth momentum.
XRP Price Against Resistance
XRP's price has broken through the $2.20 region and is currently testing a resistance level at $2.35. This level has previously influenced past rallies. If the price can hold above this mark, the next zones of interest will be $2.48, $2.65, and the psychologically significant range of $2.78-$3. Currently, the price is not showing significant signs of overheating; however, the need to breach $3 becomes increasingly relevant for reaching historic highs.
While XRP shows price signs that indicate market confidence, factors such as whale activity and declining transaction numbers could potentially slow momentum due to insufficient mass support.
