Why XRP Keeps Failing Near $2 — The 1.86 Billion Sell Wall Nobody Talks About
XRP's repeated failure near $2 is due to a massive 1.86 billion XRP sell wall between $1.96 and $1.98 that absorbs buying pressure.Summary
XRP consistently fails to sustain rallies near the $2 mark because of a significant, often overlooked, supply cluster—a sell wall of approximately 1.86 billion XRP held by investors who bought between $1.96 and $1.98.
For XRP to break through this level, reclaiming the 20-period Exponential Moving Average (EMA) on the 12-hour chart is only the first step; this reclaim must be followed by strong, sustained buying volume, evidenced by significant exchange outflows, to absorb the supply.
While whale wallets holding 10 to 100 million XRP have shown accumulation, this buying is not strong enough currently to overwhelm the 1.86 billion XRP supply wall. The key levels for a breakout are a clean close above $1.99 to breach the cluster, while a drop below $1.80 would signal renewed weakness.
(Source：BeInCrypto)