The cryptocurrency XRP, launched by Ripple Labs in 2012, has shown growth to $3.11, allowing 94% of its holders to see profits. Data from blockchain analytics firm Glassnode indicates that the token has surged over 500% in the past nine months.
XRP Market and Investor Profitability
XRP's rise to $3.11 currently places it as the fifth-largest cryptocurrency by market capitalization on CoinMarketCap. More than 94% of token holders are in profit now.
Warning Signs in the Market
A key indicator, Net Unrealized Profit/Loss (NUPL), suggests the current market situation is nearing the ‘belief-denial’ phase, often signaling the approach of price peaks, as seen in both 2017 and 2021.
Current Trends and XRP Prospects
On the charts, XRP is consolidating within a descending triangle pattern, with support near $3.05. A breakdown could drive the price down to $2.39. If bulls manage to break resistance, a rise to $3.50 could be possible.
The upcoming weeks will be crucial for XRP, as institutional demand may sustain the market and absorb potential profit-taking from investors.
