XRP Profit-Taking Surges 240% as Price Falls to $2.30
Glassnode on-chain data reveals XRP profit realization volume jumped 240%, climbing from $65 million to $220 million per day, as XRP’s price corrected from $3.09 to $2.29 on CoinGecko. This surge in XRP profit realization reflects intensified profit-taking by long-term holders, driving a 9% weekly decline despite bullish catalysts including Ripple’s $500 million funding round, Palisade acquisition, Mastercard partnership on the XRP Ledger, high-profile Swell speakers, and spot XRP ETF S-1 updates from Franklin Templeton and other issuers. The realized profit spike underscores market volatility and risk-management strategies for traders. Monitor on-chain metrics, realized profit trends, and key support levels to gauge potential recovery or further downside in XRP.
Bearish
Intensified profit-taking by long-term holders, reflected in a 240% surge in realized profit and a 9% weekly price decline, indicates substantial selling pressure on XRP. Despite ongoing bullish developments such as Ripple’s funding round, partnerships, and ETF filings, the on-chain metrics point to cautious sentiment and risk-off behavior. In the short term, this could extend the downward correction, making the impact bearish. Over the longer term, underlying catalysts may support a recovery, but immediate market dynamics favor further price weakness.