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XRP Accumulates $519M Amid Undervaluation Signal as Key $3.17 Support Holds

Significant accumulation activity and technical indicators are converging on XRP, suggesting potential for recovery while market participants closely monitor critical price levels. On-chain data indicates investors accumulated approximately 163 million XRP tokens, worth roughly $519 million, over a recent three-day period. This sizable investment signals growing confidence among holders.

Complementing this accumulation, XRP’s Network Value to Transactions (NVT) ratio has hit a four-month low. A low NVT ratio historically signals that the token’s market capitalization may be undervalued relative to the value of transactions occurring on its network.

Despite these positive signals, XRP faces a key technical hurdle. The cryptocurrency is currently trading around $3.17, a price point representing critical support. This level is notably 15.3% below its all-time high of $3.66. Maintaining support above $3.17 is deemed crucial for a bullish outlook; a breach below the $3.00 psychological level could trigger further declines toward $2.96 or lower. Conversely, successfully reclaiming resistance at $3.38 could pave the way for tests of previous highs. Broader market sentiment and sustained network activity will significantly influence XRP’s stability and future trajectory.

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