Key Takeaways
What is the next expected price move for XRP?
Despite the aggressive buying activity in the Futures market, the price action firmly pointed toward an XRP drop to $2 or lower.
What needs to happen to change this bearish outlook?
An XRP rally beyond the overhead supply zone that extended up to $2.8 would be the first step to shifting the price’s direction bullishly.
Last week’s news of Ripple [XRP] stepping into the digital asset treasury (DAT) landscape sent the media into a frenzy. It was leveraging its on-chain infrastructure to deliver seamless payment solutions.
This news did not stabilize the fearful sentiment in the market, but it did reinforce the conviction of long-term investors.
The ongoing government shutdown has delayed the SEC’s approval process for the XRP exchange-traded funds (ETFs).
Ripple’s treasury push fails to lift market mood
In a post on X, crypto analyst Maartun pointed out that the Co-Founder of Ripple, Chris Larsen, had realized over $764 million in profits since January 2018.
These come from XRP sales, which the analyst observed tended to occur around local market tops.
He wrote that while Larsen booked profits, XRP holders continued to hold the bag.
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Author: Akashnath S
