XRP, Target Price $2.5… New Demand Increases, Long-Term Holders Maintain Holdings

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XRP has risen by almost 10% over the past week. It continues to rise amid broader market recovery. At the time of writing, the popular altcoin is trading at $2$2.28.

The improved market conditions have sparked new interest among XRP traders. Long-term holders have reduced their selling activities.

The recent rise in XRP price was driven by an increase in the number of new addresses. According to glassnode, this reached a recent two-week high of 3,677 on April 28.ass>

Additionally, XXRP long-term holders (LTH) did not sell their held tokens over the past week. This behavioral change is reflected in the decline of the Liveliness indicator, which measures the of old coins.<>

XRP Liveliness. Source: glnode fig>

This reflects investor confidence in XRP and suggests the possibility of continued price increase.

XRP's Upward... Can It To $ain2.50h50?strong>

>On the daily chart, chart steady rise of XRP's Relative Strength Index (RSI) confirms the strength outlook. The The indicator 60.10 and its upward trend trend.

The RSI indicator measures the overbought and oversold market conditions of an asset. With values between 0 and 100, over 70 indicates the asset is overbought and may decline. Conversely, values below 30 indicate the asset is oversold and may rebound.

At. 60, XRP's buying pressure is ahead of selling activity. If this trend continues and the token breaks through the..29it could $rise to50.

XRP Price Analysis
XRP Price Analysis. <. Source: TradingView

On the other hand, if selling resumes, XRP could lose its recent gains and fall to $1.99.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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