XRP Profit Don Pass 93% Wit NUPL Peak: Risk of 20% Correction
On-chain data wey Glassnode show na 93.92% of XRP supply dey make profit after e climb pass $3. For history, when profit rate pass 90%, e mean say na big top for XRP, like we see for early 2018 and April 2021, wey come before big fall of 95% and 85%. The NUPL indicator don enter the “belief–denial” area, wey mean say risk don reach peak. For technical side, XRP dey trade inside one descending triangle wey get support for $3.05. If e break down, e fit make price drop 20–23.5% go $2.39, but if e rally pass the falling resistance, e fit cancel bearish signal and push price go $6. Traders suppose dey watch on-chain metrics and technical levels well to know how XRP go do short term.
Bearish
Di report talk say over 93% of XRP supply dey make profit and the NUPL indicator don reach historical peak zones, conditions wey don happen before when XRP big price fall. The descending triangle pattern with support for $3.05 dey increase the risk for short term correction up to 23.5%. Even though breakout above resistance fit push prices higher, the on-chain metrics and technical setup wey dey now show say selling pressure dey rise. This combo mean say short term bearish sentiment dey, but if e sustain reversal above the triangle, e fit change the long term outlook.