This is how the price recovery of Ripple (XRP) happens.
The price of Ripple (XRP) has turned bearish, and its recovery potential has slowed down.
One of the main reasons is the lack of activity among XRP owners, making their optimism futile.
Ripple investors try but not too hard
The price of XRP is likely to be affected by the lack of trial and participation among investors. The availability of XRP containers remains weak, affecting the recovery potential.
The low level of engagement is obvious, with active contacts averaging less than 20,000 per day. This lack of activity indicates a decrease in short-term trading and concern about carrying losses.
Read more: How to buy XRP and everything you need to know
However, despite the weak participation, the conviction among XRP holders is still strong. This is reflected in the average coin age (MCA), which has seen significant growth. A rising MCA indicates that investors are holding onto their XRP for the long term, indicating confidence in the asset's future potential.
A rise in MCA also suggests that investors are reluctant to move their holdings. Instead of engaging in frequent transactions, they show long-term trust in XRP by holding their assets. This behavior often reflects confidence in the cryptocurrency's eventual recovery.
While the current low level of daily active addresses is a concern, the strong confidence shown in the MCA offers a silver lining. If this trend continues, long-term holders will contribute to market stability, helping to stabilize XRP's price and support a recovery.
XRP Price Prediction: A Long Walk Ahead
XRP price is trading at $0.43, recovering from $0.41 lows in the last 24 hours. Based on the above signals, consolidation is likely below $0.46. However, violation helps to recover recent losses.
Read more: Ripple (XRP) Price Prediction 2024/2025/2030
But if bearish signs continue to dominate the altcoin, the price of XRP may lose the critical support of $0.41 again. This destroys the value of the bully-neutral study, causing further failure.
Disclaimer
In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be construed as financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions. Please note that our terms and conditions, privacy policies and disclaimers have been updated.
