Will XRP remain in profit as price trend slows?
- XRP has increased by over 1% just thrice in the last two weeks.
- Over 80% of the total XRP in circulation remains in profit.
Following upward momentum a few weeks ago, Ripple [XRP] has stabilized and has not exhibited the same movement level as other altcoins. While XRP recently positioned itself as the fourth-largest asset, what is its current status?
XRP’s bear trend continues
AMBCrypto’s analysis of XRP’s daily timeframe chart showed that in the past 14 days, it had experienced a price increase of more than 1% on only three occasions.
Notably, these instances followed a significant 6% decline on the 11th of December, highlighting the sluggish trend observed in recent weeks. At the time of this analysis, XRP was trading at around $0.61, with an increase of less than 1%.
Also, the short moving average (yellow line) has acted as immediate resistance around $0.63. This has recently prevented the price from moving beyond the current price range.
Furthermore, the Relative Strength Index (RSI) indicated a weak trend. It was below the neutral line as of this writing, having maintained this position for nearly two weeks.
Active addresses are yet to reclaim September’s best
AMBCrypto’s examination of XRP’s Active Addresses showed that it had not recovered since its massive decline in September. The chart showed decreased Active Addresses, from over 480,000 to around 281,000 at press time.
This decline implies a reduction in the number of wallets actively engaging in XRP trading, suggesting a potential decrease in volume and, consequently, a potential impact on the price.
XRP slips in coin ranking
Some weeks back, during a period of positive price movements for XRP, its position in the market ranking rose. According to CoinMarketCap’s asset ranking based on market capitalization, it reached the fourth position at press time.
However, in light of the recent performance of other assets, it has slid down the rankings. At the time of this update, it held the sixth position, with a market capitalization of around $33.8 billion.
Notably, Solana [SOL] and Binance Coin [BNB] have surpassed XRP, as indicated by their market caps over the past few days.
How much are 1,10,100 XRPs worth today?
More XRP holders remain in profit
Despite the slow movement of XRP’s price, a substantial portion of the circulating supply has proven profitable.
An examination of the total supply in profit on Santiment showed that more than 86 billion of the altcoin’s overall supply was in a profitable position at the time of the report — over 86%.