XRP has shown the ability to maintain its position despite significant token sell-offs. This scenario indicates strong demand and trader confidence in the market.
XRP's Resilience Amid Sell-Offs
XRP reached the $3 level despite the sell-off of 40 million tokens by large holders. The price chart showed sharp fluctuations but then stabilized. Large sales did not lead to significant declines in price due to strong demand and liquidity in the market.
Strong Market Performance
Currently, XRP is trading at $3.06 with a daily increase of 2.17%. The market capitalization stands at $182.89 billion, while trading volume surged by 35.69%, reaching $5.89 billion. This confirms a sustained demand even in the face of pressure from large sales.
Overall Positioning and Outlook
Over the past week, XRP has increased by 9.66%, and over the last 90 days, it has risen by 42.66%. Market sentiment remains positive, with a long-to-short ratio of nearly 3 to 1 on Binance. This reflects trader confidence in XRP's further growth, provided that the price stays above $3.
The cryptocurrency XRP continues to demonstrate resilience and growth despite pressure from large holders. Strong demand may help neutralize potential negative factors, indicating XRP's stable position in the market.
