XRP price recently experienced a strong surge, with a daily increase of up to 18.7% before halving that gain. Currently, this token is trading around $1.53, closing the session with a 9% gain.
However, early profit-taking pressure from investors has restrained the upward momentum and may influence XRP’s price trend in upcoming trading sessions.
Selling pressure on XRP continues
Data on net position changes across exchanges show that selling activity from XRP investors remains steady. The green bars on this indicator chart reflect continuous capital inflows into exchanges, which often signals an intention to sell. This trend indicates that many investors are taking advantage of price rallies to sell XRP.
Although the price has recently broken out significantly, outflows still dominate inflows. This suggests investors are quickly locking in profits after a period of market volatility. Such behavior often hampers the ability to sustain strong growth and encourages accumulation around resistance levels.
XRP Net Position Change | Source: Glassnode The MVRV Long/Short Difference index currently indicates that most profits are held by short-term investors. Low values of this index show that short-term investors are dominating unrealized gains.
Short-term investors tend to react quickly to price fluctuations, especially during upward movements. Their profit-taking at expected levels can be a key factor disrupting XRP’s growth trajectory.
XRP Buy/Sell Spread MVRV | Source: Santiment As long as profits remain concentrated among short-term investors, XRP’s upward momentum may face significant barriers.
XRP price faces potential strong resistance
In recent trading sessions, XRP surged by 18.7% before ending with a 9% gain. However, the appearance of long wicks and rapid retracement suggest profit-taking pressure emerged early on. This reflects a lack of confidence among buyers, despite signs of market recovery.
XRP’s short-term target is to maintain support at $1.51. Currently, the token is slightly above this support level, trading at $1.53.
However, resistance near $1.62 could limit further gains. If selling pressure from short-term traders continues to increase, XRP’s price could be pushed back to $1.36.
XRP Price Analysis | Source: TradingView Conversely, if selling pressure diminishes and demand strengthens, XRP could regain upward momentum. A breakout above $1.62 would improve the technical structure and open the door for a move toward $1.76. This would not only invalidate bearish signals but also reinforce the market’s recovery trend.
Mr. Giáo
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