XRP Selling Pressure Collapses 39%, But This Price Level Still Controls the Outcome
XRP selling pressure has dropped 39%, showing bullish divergence, but a key resistance level around $1.96 still dictates the price outcome.Summary
XRP price is at a critical juncture, showing signs that selling pressure is weakening despite being down nearly 16% month-on-month. Evidence for this includes bullish divergence on the 12-hour chart, where price made a lower low while the RSI made a higher low, indicating fading momentum.
On-chain data supports this, showing that the net selling by XRP holders declined by approximately 39% between December 11 and December 18. While this suggests sellers are losing control, it does not guarantee a rally.
The outcome hinges on a major structural test: the $1.96 to $1.97 resistance zone, where a significant supply cluster of 1.82 billion XRP was accumulated. For a genuine trend shift, XRP must achieve a clean daily close above $1.96; otherwise, any upside move risks stalling. The key invalidation level on the downside remains $1.76.
(Source：BeInCrypto)