XRP 'Distribution' hits the record level as an altcoin trade under 3 USD

On March 2, XRP registered a massive rally of 34.15%. After the announcement by US President Donald Trump, the price pump came that XRP (XRP) would be included in a US strategic crypto reserve alongside Solana (SOL) and Cardano (ADA).

However, the old coin achieved 50% of his rally on March 3, and an analyst emphasized that XRP whales may take a step behind the scenes.

XRP whales sell to record levels

With XRP, which is currently subject to 30% under his all-time high, the cryptoquant founder Ki-Young Ju implied that large XRP addresses may be exhausted. With the help of the XRP's volume glass card, he emphasized an increased activity between 2 and 3 US dollars last month.

While a highly volume activity can also be synonymous for buyers, Young-Ju explained that the Altcoin is currently in a distribution phase.

From a technical point of view, a “sales phase” describes a phase in the market cycle in which large investors gradually sold their investments, which normally occurs near the amount of an upward trend.

Maartun, a verified onchain analyst, also confirmed that XRP is subjected to a distribution phase. With the help of the whale flow analysis, the analyst found that negative whale flows with a 30-day sliding average (30 DMA) achieved a low level. The analyst added

“This metric shows the whale river. You download $ XRP, as it has never been seen before. “

In the meantime, the XRP Exchange Reserve in Binance also recorded a strong increase of 2.72 billion to 2.90 billion tokens. An increase in the exchange reserves shows a higher sales pressure, which corresponds to the above development of the distribution phase of XRP.

Relatives: XRP price to $ 18,000? – A crypto research group says that it is possible

XRP is in difficulties under $ 2.50, says analyst

Despite the latest rally, Dom said that an XRP market analyst was that the old coin could not have an all-time value of the volume-weighted average price (VWAP) of USD 2.70.

So that the trend can maintain a future rally, it is important for Altcoin to keep a position above the range of USD 2.50.

Dami Defi, a crypto investor, was of the opinion that the HTF diagram of XRP shows a higher high consolidation under the key resistance and rising trend line. The investor added

“With Trump, who supports $ XRP for the US reserve, it is a game for price discovery.”

On the contrary, Matt C, a cybersecurity engineer and Bitcoin advocate, rejected the bullish behavior of XRP and identified the formation of an inverse head and an inverse shoulder for the old coin. With the relative strength index (RSI), which forms lower heights in the 1-day diagram of XRP, the Bitcoin enthusiast was of the opinion that the current increase in old coins for the masses is “liquidity” of the output liquidity.

Relatives: Bitcoin returns below 90,000 US dollars because the cryptom market liquidates 150 million US dollars in hours

This article does not contain investment advice or recommendations. Every investment and trade movement is the risk, and readers should carry out their own research results if they make a decision.