XRP’s Bullish Setup: Selling Drops 82%, Breakout Needs Just 5% Push
XRP shows a bullish setup as long-term selling pressure dropped 82%, but a 5.4% push past $2.59 is needed for a breakout.Summary
XRP price is currently recovering, trading near $2.46, despite being down 18% over the last 30 days. On-chain data indicates a shift in investor behavior: long-term holders significantly eased selling pressure, with the Hodler Net Position Change dropping by over 82% between October 16-17 and October 19. Simultaneously, the short-term investor cohort (1-week to 1-month holders) has increased its total XRP supply share, suggesting renewed accumulation. Technically, XRP needs to break the key resistance at $2.59, which is about a 5.4% move, to confirm a breakout toward $2.81 and $3.10. However, the Money Flow Index (MFI) shows weak retail participation, meaning sustained buying activity is necessary for the bullish scenario to materialize. Failure to hold above $2.43 could lead to a drop toward $2.08 or $1.76.
(Source：BeInCrypto)