The ongoing volatility in the cryptocurrency market continues to hinder xrp Posting a rally as recent attempts to move higher have faced significant resistance at the $2 price level. However, this continuous downward trend has not completely crushed the sentiments of investors, especially whale holders.
Big holders of XRP are coming back
XRP has been in a downward trend for the past few weeks due to the market decline in October. After several weeks of weak price performance and failed attempts at upside, the key Investors are beginning to display positive sentiment towards the leading altcoin.
as seen in the report Steph Is from Crypto, a market expert and trader Large investors, also known as whale holders, are once again making their presence felt. Despite the ongoing bearish action in the price of XRP, there is a steady resurgence in accumulation among the group.
While this change signals Increasing confidence of deep pocket investors, It also suggests that they are repositioning themselves in anticipation of an upward move by the broader market. When whale investors start buying again, it is often before an upward move, raising questions about whether the accumulation could serve as a base for the altcoin’s next major direction.
According to experts, fresh buying pressure has started big investors Holding between 100 million XRP and 1 billion XRP. After several days of significant adoption by the group, the total number of coins they hold increased from 8.11 billion to 8.23 billion XRP, worth approximately $150 million.
A similar resurgence in sentiment and investor activity has also been seen among those holding 10 million to 100 million XRP. Data from the chart shows that these investors now hold about $10.90 billion, compared to $10.88 billion a few days ago.
Despite buying again by large investors, Steph Crypto believes renewed accumulation This is a more cautious move than a bullish move. However, if this trend continues over the next days or weeks, the altcoin could attract enough momentum to move higher.
Almost half the supply is in deficit
with price of xrp Due to the decline and trading below the $2 mark, many coins are beginning to see major losses. According to on-chain data, the profitability of holders has declined sharply amid the ongoing recession. one in previous postSteph Crypto highlights that approximately 50% of the altcoin’s total supply is now underwater, suggesting a change in approach where patience and selectivity are replacing optimism.
The chart shared by the expert shows that the share of xrp supply Profits have currently fallen to 52% after a sustained decline. While almost half of the total supply held by investors is in loss, this development increases the risk of panic-induced selling pressure during periods of weakness, as seen in the past.
However, this softening in profitability often marks an important stage, as it could still act as a trigger for a notable rally in the coming days or weeks. According to the expert, the last time profitability fell to this level was in November 2024, just before a major upside extension.
Featured image from Freepik, chart from tradingview.com
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