Short-Term Holders Could Sink XRP Price — Unless It Reclaims One Critical Level
XRP faces continued downside pressure from short-term holders selling into rallies unless the price reclaims the critical $2.64 level.Summary
XRP's price has been in a downtrend, dropping 3% in 24 hours and 19.1% over 30 days, with technical indicators suggesting further weakness. A hidden bearish divergence, where the price made a lower high while the RSI made a higher high between October 13 and November 2, signals a continuation of the downtrend.
On-chain data supports this bearish outlook; the Net Unrealized Profit/Loss (NUPL) is high, encouraging profit-taking. Specifically, wallets holding XRP for 1 day to 1 week have nearly halved their supply share in two weeks, indicating aggressive selling by short-term traders.
Key support for XRP is at $2.31; a failure here could lead to a drop toward $2.18. However, the bearish setup is invalidated only if XRP closes daily above $2.64, which would shift momentum back to buyers and signal a potential rebound.
(Source：BeInCrypto)