Dormant XRP coins wake up: What means for the altcoin’s road to $4
Main Idea
XRP is experiencing increased redistribution of dormant tokens, raising concerns about potential price pressure on its $3 support level despite recent gains.
Key Points
1. XRP's Mean Dollar Invested Age (MDIA) has dropped by 13% over the past month, indicating increased turnover of previously dormant tokens.
2. XRP is up 40% on the month but faces potential pressure on its $3 support level if buyer demand weakens.
3. XRP's recent 64% rally from July lows underperformed Ethereum (ETH), which gained 50% with less severe drawdowns.
4. A $9.3 million contraction in XRPL’s Total Value Locked (TVL) suggests possible profit-taking or de-risking, making XRP more reactive to market shifts.
5. Smart money appears to be adjusting quickly, which could exacerbate downside risks if broader market sentiment turns risk-off.
Description
Old XRP supply returns - Is $3 at risk?
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