XRP Quietly Builds Momentum: Could July Be the Month of the Breakout?
Silently, Ripple (XRP) is preparing for a breakthrough. A promising indication of rising confidence is the fact that investors are opting to keep rather than sell, according to on-chain indicators. XRP is getting closer to retesting the established $2.23 resistance as this established base of holders gets stronger. July might be a turning point in XRP’s history if accumulation keeps up this rate.
Growing XRP HODLer Base Suggests Confidence Ahead of Potential Price Rally
In June, the percentage of addresses that kept the coin for six to twelve months increased from 6.3% to 19.1%, a 12.8% increase that indicates mid-term conviction. This increase suggests that a growing number of investors are opting to hold through market turbulence instead of liquidating.
Furthermore, holders for three to six months exhibit comparable behavior, pointing to a larger HODLing trend. In addition to expressing hope for a price recovery, these changes aid in stabilizing XRP’s price structure in the face of future increases.
XRP Technicals Show Promise, But Volume Holds the Key to Breakout
At the time of writing, XRP was barely below the crucial $2.23 resistance, but indications of momentum are beginning to show. With a positive crossover developing over the previous several sessions, the MACD turned bullish.
There was potential for upward growth as the RSI hovered around the neutral 50 line. Nonetheless, trading volumes stayed comparatively low, indicating that bulls at this point lacked significant conviction.
Volume must follow through in order for XRP to make a significant breakout. Although the technical setup appears encouraging, the rally runs the danger of halting just short of a significant breakout if there isn’t a spike in purchasing interest.
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