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XRP Holds $1.90 Amid Retail Fear; Validator Sees Buying Opportunity
XRP is trading above $1.90, recovering from a recent dip below the $2 level amid a broader crypto market downturn.
XRP Accumulation Insights
- XRPL validator 24HRSCRYPTO views the sub-$2 price as an accumulation opportunity rather than a sign of weak fundamentals.
- On-ledger data indicates over 500,000 XRP Ledger accounts hold more than 10,000 XRP each.
- The analysis suggests that as prices rise, accumulating large XRP holdings becomes increasingly difficult for new investors.
Retail Sentiment and Market Dynamics
- Retail sentiment for XRP has reached "extreme fear" levels, according to Santiment data.
- Historically, such sentiment lows have sometimes preceded short-term price rebounds.
- XRP's price has modestly recovered from $1.89 to nearly $1.95, but analysts warn that fear alone may not sustain growth.
Technical and Ecosystem Developments
- XRP’s monthly candle is bearish, with significant selling near the $2.70–$3.00 range.
- A monthly close below $1.90 could lead to support tests around $1.60.
- Ripple ecosystem developments include Binance listing RLUSD, enhancing liquidity and stablecoin infrastructure.
- Executives foresee potential institutional adoption of blockchain payments by 2026.