XRP News: London Fund Manager Analyzes Price Stagnancy Amid Growing Institutional Interest

XRP Puzzle: London Fund Manager Breaks Down Price Stagnancy

Banks and other global financial organizations are becoming more interested in XRP, the cryptocurrency and digital payment system. However, the price of the altcoin has not changed, leaving many investors and analysts perplexed. Some contend that Ripple’s use of a private ledger for institutional transactions conceals XRP’s actual value, while others attribute this to issues with liquidity and market sentiment. According to DigitalG, a former fund manager in London, Ripple’s usage of a private ledger may be the reason why the price of XRP has been stagnant. DigitalG asserts that banks might be acquiring XRP in substantial volumes on a concealed ledger instead of the public XRP Ledger (XRPL), keeping these transactions out of the public market.

Ripple Price Analysis: Where Is XRP Headed After a 20% Monthly Decline?

Ripple has been trading within a tight range between the 100-day moving average and the crucial $1.9 support level. Further consolidation within this range is expected until a decisive breakout occurs. Over the past few months, XRP has remained inside an expanding wedge pattern, with the $1.9 support level acting as a strong defense for buyers. This critical price zone aligns with the 0.5 Fibonacci retracement level. Meanwhile, the asset faces major resistance at the 100-day moving average of $2.5.

XRP Price Breakdown below $2: Analyst Reveals Next Major Support

Crypto analyst MadWhale has predicted that the XRP price could drop to the major support at $1.90 if it loses the crucial $2 support level. The analyst noted that XRP has demonstrated a classic triple-top formation, with each successive peak showing weaker momentum. A break below the $2 threshold appears imminent as XRP nears a formidable resistance zone, and the downward move is expected to extend to at least $1.9, representing an 18% decline.

XRP Whales Selling Hits $500 Million, Price Decline Likely

The broader market sentiment remains bearish, and the price movement of XRP is under pressure due to large-scale selling by whales. Addresses holding between 10 million and 100 million XRP have sold more than 220 million XRP, worth approximately $500 million, in the past six days. This significant selling indicates that major investors no longer believe in the potential for further short-term recovery, suggesting a lack of confidence in the market.