XRP is in the spotlight this week, logging $4.11B in seven-day trading volume on top South Korean exchange Upbit, according to leading market analyst X Finance Bull. Nevertheless, the price has slipped by 5.06% to around $1.38 per CoinCodex data, highlighting a market in motion, where rising activity amid a dip reflects decisive buying and selling pressure, not routine fluctuations. Notably, a 4.8M XRP transfer from Upbit last month cost just $0.02, highlighting the XRP Ledger’s efficiency.
On-chain metrics reinforce a reset narrative for XRP. Its SOPR hovers near 1.0, showing coins are trading at break-even, typical of a ‘reset zone’ where weaker hands exit and stronger holders accumulate, setting the stage for healthier price action. Meanwhile, panic buying on South Korea’s Upbit drove $1.55B in seven-day volume, outpacing global exchanges and highlighting heightened investor urgency.
What’s the key takeaway? Well, XRP remains in focus as the market tests conviction. Strong hands show confidence in the long-term narrative while weaker holders exit. Tracking trading volumes, key support levels, and on-chain metrics offers critical insights into whether this redistribution phase will lead to base-building or a renewed rally.
Notably, XRP’s $4.11 billion surge on Upbit highlights a market in transition, participants’ actions are signaling a decision, giving attentive traders a potential strategic edge. Strong hands are accumulating as weaker holders exit, indicating a redistribution phase. This surge in activity may set the stage for consolidation or a future upward move. Traders should closely monitor volume trends, key supports, and on-chain metrics to gauge XRP’s next direction.
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