Ripple (XRP) Price Remains Stable
Ripple (XRP) is trading between $2.15 and $2.30 on Friday. It has stayed in this tight range for four days. This shows a struggle between buyers and sellers. Low retail interest is limiting XRP’s growth, as noted in a recent report. The weak derivatives market and uncertainty before the Federal Reserve’s December meeting also create cautious trading.
On-Chain Activity and Whale Selling Impact XRP
On-chain activity on the XRP Ledger (XRPL) has dropped recently. Since June, daily active addresses have stayed below 100,000, according to Santiment. On Thursday, about 19,200 addresses were active, compared to 581,000 in mid-June. Low activity hurts adoption and demand, making price gains hard to keep.
Large investors, called whales, are selling XRP, adding pressure on the price. Data shows investors holding 100,000 to 1 million tokens dropped from 10.06% of the total supply in early November to 9.81%. Those holding 1 million to 10 million tokens fell from 9.76% to 6.75% in the same period. This selling trend increases the risk for extended price drops below $2.00.
Technical Analysis: XRP Faces Resistance
XRP trades near $2.19 and remains below key moving averages. The 50-day EMA at $2.36 and the 100- and 200-day EMAs at $2.51 block upward moves. However, the MACD indicator shows improving momentum, suggesting some recovery if the $2.36 resistance breaks.
Resistance also appears near $2.66, limited by a descending trend line from XRP’s July 18 high of $3.66. The Average Directional Index (ADX) at 23.96 signals a weak trend and sideways trading. Passing above $2.51 would boost XRP’s chances to rise. Failing to break $2.36 may keep sellers dominant.
