XRP: Selling Pressure Decreases and Technical Signal Points to Possible Reaction
After weeks of frustrating sideways movement within a narrow range between US$ 1.98 and US$ 2.28, XRP shows the first technical and behavioral signs suggesting a sustained attempt at recovery.
Accumulation Chart Signal
The price recently touched the lower support line of a symmetrical triangle, a pattern that generally precedes a significant breakout. More importantly was the positive volume divergence: while the price marked lower lows between December 6 and 11, the On-Balance Volume (OBV) recorded higher lows. This indicates silent accumulation – buying on dips – even during the apparent weakness of the chart.
Selling Pressure in Retraction
The behavior of holders reinforces the scenario:
Large Holders (Long Term): Reduced their net sales by approximately 49% between December 3 and 10.
Speculators (Short Term): The ratio of supply held by 24h wallets fell from 1.89% to 0.22% in the same period. This outflow of "hot money" removes a recurring selling pressure that often sabotages rallies.
Next Decisive Levels
Confirmation of the Uptrend: A close above US$ 2.17 (immediate resistance) is the first step to validate the momentum. Definitive overcoming of US$ 2.28 would pave the way for higher targets.
Invalidation of the Scenario: A close below the key support of US$ 1.98 would nullify the positive structure, with the next support at US$ 1.88.
The combination of a technical accumulation signal with a significant reduction in selling pressure from both groups of holders creates a more favorable environment for a sustained recovery of XRP, provided that critical support levels are maintained.
