Ripple has been dealing with the ongoing SEC lawsuit for quite some time now. Buying pressure has been on the rise, but the price of XRP hasn’t been following an uptrend. Thus, making it difficult for investors to continue HODLing. XRP and its ripples After the June crash, many cryptocurrencies have rallied and recovered their […]
Ripple has been dealing with the ongoing SEC lawsuit for quite some time now. Buying pressure has been on the rise, but the price of XRP hasn’t been following an uptrend. Thus, making it difficult for investors to continue HODLing.After the June crash, many cryptocurrencies have rallied and recovered their losses. However, some other cryptos couldn’t perform very well.
To make things worse, the increasing buying pressure might reach saturation soon. It will then reverse the active uptrend. This will cause the difficult recovery to take a break altogether.Notably, XRP is down by 81.6% from its all-time high in May 2021. Firstly, the active addresses on the network peaked at their highest single-day figure since the cryptocurrency’s inception touching 258k earlier last week.Coinmetrics – AMBCrypto
Although there is no explicit evidence if their appearance led to any significant selling, it is certain that many of the long-term holders’ supply was involved in the on-chain transactions.
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