XRP Attracts 4-Month Record Dip Buying as Price Falls 15% in a Week
Despite a 15% weekly price drop, XRP is seeing its strongest dip buying since September, primarily from long-term holders near key support levels.Summary
XRP has experienced a sharp 15% price decline since its January 6 peak, breaking below the 100-day and 50-day Exponential Moving Averages (EMAs) and now testing the critical 20-day EMA support. Historically, losing this level has preceded deeper pullbacks. However, on-chain data reveals a significant divergence: conviction buyers, or long-term holders (HODLers), have engaged in the strongest accumulation streak since September 7, absorbing hundreds of millions of XRP on January 10 and 11. This buying is concentrated around major supply clusters between $2.00-$2.01 and $1.96-$1.97, which explains the slowing selling pressure despite weak momentum. Larger whales remain cautious, suggesting the current support is structural rather than broad-based. For XRP to recover, it must hold these clusters and reclaim the 20-day EMA near $2.04; failure to do so risks a drop toward $1.77.
(Source：BeInCrypto)