XRP Price Analysis: Near Exhaustion Zone After 34% Holder Drawdown. What Next?
XRP stabilized near key support after a 2% drop driven by institutional selling, with traders watching $2.31–$2.35 support and $2.47 resistance.Summary
XRP recently declined by 2%, falling to $2.36 from $2.41 due to ongoing institutional liquidation, which coincided with long-term holders reducing their positions by 34% over the past two weeks, as shown by the drop in the Hodler Net Position Change metric. Despite this selling pressure, open interest rebounded to $1.36 billion, suggesting derivative traders are rebuilding exposure, possibly anticipating tactical long positions ahead of quarter-end ETF speculation and signals of macro easing.
Price action showed high-volume reversals above the $2.31 support level, confirming strong demand, though resistance remains capped near $2.47. The current trading range is $2.31 to $2.47, with $2.35 acting as a short-term anchor. Analysts suggest continued consolidation until macro risk subsides or ETF-related flows accelerate, with a clean reclaim of $2.47 being the trigger for a reversal toward $2.55.
Key levels for traders are the $2.31–$2.35 support zone for defense and the $2.47 resistance reclaim as a confirmation trigger for upward momentum.
(Source：CoinDesk)