Investor demand for XRP falls as the bull market stalls — Will traders defend the $2 support?

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Coin Telegraph 1d ago

Investor demand for XRP falls as the bull market stalls — Will traders defend the $2 support? - Coin Telegraph

Quick Summary:

Glassnode analysts said, “Given the retail-dominated inflows and largely concentrated wealth in relatively new hands, this alludes to a condition where retail investor confidence in XRP may be slipping, and this may also be extended across the broader market.”Besides weakening confidence among newer investors, the distribution of XRP among whale addresses reflects a similar trend.

Holders are increasingly facing losses rather than gains, which is dampening their risk appetite.“Retail confidence in XRP may be slipping”Since bottoming in 2022, Bitcoin (BTC) and XRP have gained 500% to 600%, but the bulk of XRP’s gains came from a parabolic price increase.

During this time, the quarterly average of daily active addresses jumped by 490% and XRP price hit a 7-year high.XRP’s 1-day chart.