How a Bearish XRP Price Metric Is Now Fueling Bullish Hopes — $1.70 Reclaim Possible?
Despite short-term bearish signs like a falling channel, on-chain data suggests selling is concentrated in weak hands, hinting at a potential $1.70 reclaim.Summary
XRP price is currently under pressure, trading within a long-term descending channel, with rising exchange inflows signaling short-term selling risk. However, deeper analysis of holder behavior suggests this selling is concentrated among speculative, short-term holders (one-week to one-month cohorts) who are distributing supply. Conversely, long-term holders (over 155 days) continue to accumulate, indicating underlying strength. Furthermore, a new accumulation cluster is forming around the $1.57-$1.58 support level based on cost basis data. A bullish divergence in the Chaikin Money Flow (CMF) indicator also suggests increasing capital inflows despite the price decline. Key technical levels are $1.48 support; if this holds, a rebound toward the $1.70 barrier, and potentially $1.97, is possible.
(Source：BeInCrypto)