XRP Momentum: Small Fish Catch the Selling Pressure, Market Seeks Balance

The XRP market has recently witnessed a power restructuring among the investor classes. While the big whales are constantly pouring out tokens, the smaller steamed fish force has seized the opportunity to accumulate, forming an interesting balance between selling pressure and buying momentum.

Big Whale This Month – Small Steamed Fish Balance Pressure

Data from NS3.AI shows a detailed picture of market activity. In the past month, the big whales have issued around 400 million XRP tokens, or nearly $800 million. This is a large amount of supply that is likely to put significant distribution pressure. However, the difference this time is that the smaller steamed fish has absorbed a significant portion of this supply, helping to limit the possible downside effect. This shows the active participation of retail investors in the current period.

Long-term holders: positive signals amid selling momentum

Besides whale activity, another positive trend is taking place as long-term holders continue to accumulate tokens. Currently, XRP has 5,784,577 holding addresses, reflecting the token’s wide dispersion. This sustained confidence from the long-term holder community shows that confidence in the asset remains strong, even as selling pressure increases.

XRP Technical Analysis: Overcoming the Wedge Pattern, Is It Sustainable?

From a technical perspective, XRP has recently broken through a bearish wedge pattern, a positive signal for a possible bullish price. According to previous analysis, this pattern can support the target of an increase of 11.7%. However, XRP is currently trading at $1.34 with a 12.95% drop in the last 24 hours, reflecting the volatility of the market. This shows that the situation is already more complicated than initially predicted by the technical forecast.

Potential Risks and Important Support Levels

Despite the positive signs from fish absorbing supply, XRP still contains significant risks. If the price drops below the key support levels, the selling pressure could increase significantly. Investors need to keep a close eye on these levels to assess the sustainability of the current trend. The XRP market is in an equilibrium phase, where the activity of small steamed fish and long-term holders will be key to determining the next direction.