A recent analysis reveals that while 81.6% of the current circulating supply of XRP remains in profit, traders in South Korea are increasingly bearish. This shift in sentiment is highlighted by a significant sell-off observed on the Upbit exchange, where 62% of trades on the XRP/KRW pair were sell orders, resulting in a net sale of $120 million in XRP between April 6-7. This trend follows a previous peak in XRP's price, reaching $3.40 in January 2025, but has since dropped significantly, losing 46% in three months. Despite the profit percentages, the cryptocurrency has faced heavy selling pressure from both long-term holders and new investors, causing retail confidence to decline. XRP's price structure indicates a bearish outlook, particularly as it struggles to maintain critical support levels. If it continues to close below its 200-day moving average, further corrections might be expected in the coming weeks. Analysts suggest that a potential accumulation could occur within the demand zone between $1.63 and $1.27, indicating ongoing market volatility and uncertainty.

Source 🔗