How Close is Ripple (XRP), Price To Market Bottom; There’s More

Ripple XRP Price news: The long wait for Ripple SEC’s judgment drags on and the XRP price has been in steady decline over the past quarter. Despite the price drop and macroeconomic headwinds the XRP whales are still accumulating more of the sixth-ranked cryptocurrency. The project is slowly losing interest among small and retail traders. This could also indicate that traders are trying to protect investments until the SEC case judgment arrives.
Also read: Why XRP price is not rallying? Ripple CTO clarifies


The current XRP price is located at the bottom of a triangular formation. XRP’s price has been rising since March 2020. This was until the bull run in 2021. The price has fallen to 2020 level due to constant fluctuations. This is leading to the belief of a cryptocurrency’s near-bottom price.
The whales continue to buy XRP. Historical data clearly shows that these whales can have an impact on the price of the coin. However, data from Binance on XRP trading shows that traders are currently in a bearish market. Based on the Market Value by Realized Value (MVRV) ratio, retail traders are currently experiencing an average loss of -7%. According to Santiment Insights
“Over the past six month, the group consisting of XRP owners who own between 1,000,000 and 10,000,000 XRP has increased its holdings by 25%.”
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Also read: How Solana Token BONK Sharp Saleoff Will Impact the SOL Price
According to CoinMarketCap, the price of $0.3488 is currently at $0.3488. This is 0.99% more than the previous 24 hours. The cryptocurrency’s price has fallen by 2.80% in the past week. Bitcoin (BTC), on the other hand, has seen a 0.91% increase in price over the past seven days.

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