XRP has recently shown a price rebound, which aligns with changes in investor behavior. Altcoins are benefiting as holders choose to HODL, supporting the possibility of recovery in the coming days.
This sentiment shift is crucial in reversing the losses from June and pushing XRP above key barriers.
XRP Medium-Term Holders Increase from 12.8% to 19.1%
Addresses holding XRP for 6 to 12 months or longer have notably increased concentration this month, rising from 12.8% to 19.1%. This increase in medium-term holders indicates a strong confidence in the asset's future.
The growth of long-term holders reflects a growing belief that the price will recover despite recent volatility.
Additionally, holders who have held XRP for 3 to 6 months have shifted their behavior towards HODL instead of selling. This maturation of investor sentiment suggests confidence in XRP's price rebound.
The increase in medium-term holders plays a critical role in stabilizing the asset and supporting price recovery.
Looking at the macro momentum, the Mean Coin Age (MCA) has been steadily increasing throughout the month.
MCA reflects the behavior of long-term holders (LTH), and its increase indicates that LTH are accumulating XRP instead of selling. This is a positive signal, as LTH have a significant impact on asset prices.
The increasing accumulation by LTH further supports a positive outlook on XRP. LTH hold the largest volume, and their holding decisions ensure stability and support price recovery.
This accumulation behavior will help XRP regain its footing and potentially reach higher price levels.
XRP Price Needs to Break Key Barriers
XRP is currently trading at $2.19, just below the critical resistance level of $2.23. Breaking this resistance is essential to recover from the losses in June.
If XRP can break through $2.23 and convert it to a support level, the next target will be $2.27.
If XRP maintains momentum and can sustain above $2.23, it could continue rising to $2.32, fully recovering June's losses. This would be a crucial turning point in the recovery phase and set the stage for further upward movement.
However, if XRP fails to break through $2.23, it may enter a consolidation phase between the $2.23 resistance and $2.13 support levels.
Falling below $2.13 could push XRP back to $2.08, signaling a reversal and potential further price decline.
