Ripple: XRP turns pale as liquidity shift Bitcoin, Ethereum, Solana
The overall market environment is a major obstacle to Ripple's upside as investors focus on other digital assets.
Quick overview
- Ripple's XRP is facing increased selling pressure as investors shift their focus to Ethereum, Bitcoin, and Solana.
- Ethereum's rise above $2,500 has attracted significant institutional and retail investment, overshadowing XRP's momentum.
- Whales holding over 10,000 XRP have increased their holdings, indicating a bullish sentiment among larger investors despite stagnant retail activity.
- Long-term XRP holders remain confident in Ripple's fundamentals, unaffected by the recent market fluctuations affecting other cryptocurrencies.
Live XRP/USD Chart
The overall market environment is a major obstacle to Ripple’s upside as investors focus on other digital assets.
XRP faces more selling pressure as capital shifts to Ethereum, Bitcoin, and Solana amid weak inflows. Ethereum has unexpectedly become the market leader, drawing in institutional and retail investors. Ripple’s XRP has found it difficult to sustain momentum.
Strong bullish sentiment generated as Ethereum pushes over the $2,500 mark, and investors are positioning themselves by accumulating the cryptocurrency. At $2.50, XRP is getting close to a major psychological barrier, but its current trajectory is more akin to cautious accumulation than a strong bullish breakout.
Whales with over 10,000 XRP have significantly increased their holdings as retail investor activity remains stagnant; there are currently a record 301,000 wallets.
This accumulation points to a more pronounced bullish attitude among bigger investors. Long-term holders of XRP have remained largely unaffected by the substantial unrealized losses that Ethereum’s holders suffered during its decline to $1,400, suggesting a strong belief in Ripple’s fundamentals.
However, Ripple has nearly concluded its lengthy battle with the SEC, the same US Securities and Exchange Commission that has been going after the company since 2020 for allegedly unlawfully selling XRP tokens as securities for several years.
Today, however, things have drastically changed. The SEC and Ripple have petitioned the court to authorize a partial settlement. It claims that of the $125 million that was initially suggested, Ripple only agrees to pay $50 million. They receive the remaining 75 million, so one is essentially over.
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