XRP Price Sits 3% From Breakdown, but A Rare On-Chain Hope Appears
XRP is near a critical support level, but a rare shift to net accumulation by long-term holders offers potential hope against a breakdown.Summary
The XRP price has been weak, dropping nearly 11% over the last week and now sitting just 3% above a critical support zone around $1.94, which forms the base of a bearish descending triangle structure. A break below $1.94 would confirm a downside extension toward $1.81. Technical analysis is reinforced by a cost-basis heatmap showing strong cluster support between $1.96 and $1.97.
However, a rare positive on-chain signal has emerged: the Holder Net Position Change metric, which tracked 29 consecutive days of net outflows (distribution) by long-term wallets, flipped to net inflows on December 1. This shift suggests long-term investors are beginning to accumulate near current levels, potentially setting up a rebound attempt.
For XRP to recover, it must hold the $1.94–$1.97 support cluster. Initial recovery targets are $1.99, but a stronger rebound requires breaking above the descending trend line resistance, currently near $2.28, to neutralize selling pressure.
(Source：BeInCrypto)