When can XRP “stablecoin” break the $ 1 mark?
In contrast to many other Altcoins, XRP has not been able to establish a new ATH since May, but has been moving between $ 1.27 and $ 0.99 for over 4 months. Additionally, the November decline caused the altcoin to plunge nearly 36% and also lost key support at $ 0.99.
But that seems to be changing again with the uptrend.
XRP is rising again
For most of that month, XRP consolidated and rose slightly. However, since the rally began on December 18, the price has risen 23.61% and is currently trading at $ 0.97.
XRP price promotion | The source: TradingView
At the beginning of the rally, many investors were again optimistic. In 3 days, the number of active investors rose 38.3% and was approaching a 22-month high, similar to November.
Number of active XRP addresses | The source: Coinmetrics
This led not only to an increase in activity, but also to a slight increase in profit-taking. Seeing this as their best opportunity, most investors sold XRP. Among them, even many long-term owners (LTH) have consumed a total of more than 598 billion days in the last 7 days.
LTH sells XRP | Source: Santiment
But there are others who choose HODL and wait for a better exit in the hopes that XRP will go higher. Proof of this is the speed, which is at its lowest level since October 2020.
XRP speed | The source: mood
But either way, their actions have certainly resulted in a significant rate of growth for the network.
XRP network development | The source: mood
However, the reason XRP is unlikely to hit $ 1 is because the uptrend that began more than 20 days ago is now fading. XRP’s strong and positive price movement came amid a macro bear market that helped XRP avoid downward movement, but also thwarted upside potential.
But now that the market is looking better, the weakness of XRP is reflected in the falling ADX indicator.
If XRP can close above $ 1 in the next 24 hours, price should make a steady upward move from there. Otherwise, investors are likely to remain in the depression, as they did at the end of November.
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When can XRP “stablecoin” break the $ 1 mark?
In contrast to many other Altcoins, XRP has not been able to establish a new ATH since May, but has been moving between $ 1.27 and $ 0.99 for over 4 months. Additionally, the November decline caused the altcoin to plunge nearly 36% and also lost key support at $ 0.99.
But that seems to be changing again with the uptrend.
XRP is rising again
For most of that month, XRP consolidated and rose slightly. However, since the rally began on December 18, the price has risen 23.61% and is currently trading at $ 0.97.
XRP price promotion | The source: TradingView
At the beginning of the rally, many investors were again optimistic. In 3 days, the number of active investors rose 38.3% and was approaching a 22-month high, similar to November.
Number of active XRP addresses | The source: Coinmetrics
This led not only to an increase in activity, but also to a slight increase in profit-taking. Seeing this as their best opportunity, most investors sold XRP. Among them, even many long-term owners (LTH) have consumed a total of more than 598 billion days in the last 7 days.
LTH sells XRP | Source: Santiment
But there are others who choose HODL and wait for a better exit in the hopes that XRP will go higher. Proof of this is the speed, which is at its lowest level since October 2020.
XRP speed | The source: mood
But either way, their actions have certainly resulted in a significant rate of growth for the network.
XRP network development | The source: mood
However, the reason XRP is unlikely to hit $ 1 is because the uptrend that began more than 20 days ago is now fading. XRP’s strong and positive price movement came amid a macro bear market that helped XRP avoid downward movement, but also thwarted upside potential.
But now that the market is looking better, the weakness of XRP is reflected in the falling ADX indicator.
If XRP can close above $ 1 in the next 24 hours, price should make a steady upward move from there. Otherwise, investors are likely to remain in the depression, as they did at the end of November.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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