XRP’s recent price performance has disappointed investors, as the cryptocurrency has been on a downward trend since earlier this month.
There are indications that XRP may enter a consolidation phase, with investors showing mixed sentiments. Currently, contradictory signals are observed among XRP investors. Large holders, known as whales, are aggressively accumulating XRP, having acquired over 100 million XRP in the last two days, amounting to approximately $47 million.
This accumulation is seen as a potential catalyst for recovery, especially as the price of XRP continues to decline steadily.
Read more:
The altcoin season may be closer than we think — here’s why.
Retail investors, however, appear less optimistic, as evidenced by their reduced network activity and reluctance to engage in transactions.
The divergence between whale accumulation and declining retail investor activity, particularly in terms of daily active addresses, suggests bearish sentiments prevailing among smaller investors.
This mismatch may pose a challenge to efforts to recover XRP, despite the buying activity of large investors.
Currently, XRP is trading around $0.48, slightly above the critical support level of $0.473, and may continue to trade sideways against this backdrop of conflicting signals.
