The XRP XRP has staged one of the strongest competitions among Crypto Majors This cycle, but the early retail holders are heading to the exit below the surface.
Now it is over $ 2-more than three times its pre-rally base from October 2024-XRP has become one of the best priests big capital box in the last 8 months. Investors who bought less than 60 cents sit on winnings upwards of 300%, which results in a sharp pick -up in profit.
According to Glassnode on-chain data, the 7-day simple sliding average (SMA) of realized profits from XRP sign books hit $ 68.8 million earlier this month, the highest in over a year. It is a clear sign of distribution pressure, with early accumulators that are awarded to strength as a token testing key resistance levels just below its 2021 top.
This surplus press can help explain XRP’s lack of breaking over $ 2.20 in recent sessions despite several bullish headlines and technical tail winds.
Read more: XRP falls 5%as the sale of high volume sale of pressure dominates the market
While the wider setup remains positive, supported by legislative clarity in the United States and Ripple’s growing push in tokenized activities, the nearest price action reflects a tender overhang from long -term holders.
A recent cryptoquant analysis showed that the 1-year cumulative purchase/sale of quotation volume difference for Altcoin (excluding BTC and ETH) -A proxy for Nettoinvestorstream-in the moment is at negative $ 36 billion. It is a sharp turn from December 2024, when metric map flipped positively and marked a local top for Altcoins.
Since then, it has been a one-way bleeding, with “Altcoin Investors Mia,” said cryptoquant-independent analyst Burak Kesmeci in a Thursday post.
Despite pockets of strength in XRP, Sun and a couple of tale tokens bound to the real world (RWAs), the wider altcoin ecosystem remains stuck in a bear market, he noted.
Unless the risk appetite returns or capital streams back in layers, defi and games, hope for an “altar season” may continue to fade into the summer.
Read more: XRP hits 12-year-old milestone with over 2,700 whales holding over 1M XRP, Onchain Data Show
