Winners and wipeouts: South Korea’s crypto exchanges are splitting into two
- Long-term XRP holders were accumulating, as on-chain liveliness drops and selling pressure declines.
- Positive Funding Rates and bullish technicals showed growing momentum, but short-term resistance could stall gains.
Ripple [XRP] is quietly gaining ground, and this time, long-term holders are sitting tight.
As on-chain data signals a sharp drop in liquidation activity, the token’s recent climb appears a little less like a fluke and more like the start of something steadier.
LTHs step back as XRP liveliness declines
XRP’s recent rally may be supported by a quiet but telling shift among its long-term holders (LTHs).
According to data from Glassnode, XRP’s “liveliness” – a metric that gauges the activity of dormant coins – has slipped by 1% since the 5th of June, falling to 0.809 by the 8th of June.
Source: Glassode
Liveliness increases when long-term holders (LTHs) sell or move coins, and decreases when they accumulate or leave assets untouched.
The current downward trend in this metric suggests that experienced investors are holding onto their coins or transferring them away from exchanges, not selling.
In the short term, this behavior signals bullish accumulation and adds weight to the potential for further upside.
Bullish momentum as Funding Rates stay positive
XRP’s bullish momentum isn’t just limited to spot market behavior; it’s reflected in the derivatives space as well.
Since the 6th of June, the token’s Open Interest-Weighted Funding Rate has remained consistently positive, around 0.0099% at press time.
Source: Coinglass
The Funding Rate represents the cost of holding a position in perpetual futures markets.
When this rate is positive, it indicates that traders are predominantly going long, with short sellers paying to maintain their bearish positions.
This shows strong market confidence and reinforces the narrative of accumulating interest around XRP’s short-term price trajectory.
XRP momentum builds, but faces short-term resistance
Despite recent gains, XRP may be nearing a key technical test.
At press time, the RSI sat at 54.81, a neutral level but edging toward overbought territory, suggesting buyers still have room to push, though cautiously.
Meanwhile, the MACD histogram also turned green, and the signal line crossover indicates a possible continuation of bullish momentum.
Source: TradingView
However, today’s red candle and intraday rejection near $2.32 show short-term resistance. If bulls fail to reclaim that level, XRP could enter a consolidation phase.
Still, momentum remains in their favor… at least for now.
