XRP News Today: XRP Liveliness Drops 1% as Long-Term Holders Accumulate

XRP, the cryptocurrency associated with Ripple, has been steadily gaining traction, with long-term holders (LTHs) playing a significant role in this upward trend. On-chain data indicates a notable decrease in the token's "liveliness," a metric that measures the activity of dormant coins. This decline suggests that LTHs are either accumulating more XRP or transferring their holdings away from exchanges, rather than selling. This behavior is typically seen as a bullish signal, as it implies that experienced investors are confident in the token's future performance and are not looking to liquidate their positions.

According to data from Glassnode, XRP’s “liveliness” has slipped by 1% since the 5th of June, falling to 0.809 by the 8th of June. Liveliness increases when long-term holders (LTHs) sell or move coins, and decreases when they accumulate or leave assets untouched. The current downward trend in this metric suggests that experienced investors are holding onto their coins or transferring them away from exchanges, not selling. In the short term, this behavior signals bullish accumulation and adds weight to the potential for further upside.

The positive funding rates in the derivatives market further support this bullish sentiment. Since June 6th, XRP's Open Interest-Weighted Funding Rate has remained consistently positive, hovering around 0.0099%. This indicates that traders are predominantly taking long positions, with short sellers paying to maintain their bearish stances. Such market dynamics reflect strong confidence in XRP's short-term price trajectory and reinforce the narrative of accumulating interest around the token.

Technical indicators also point to a bullish momentum for XRP. The Relative Strength Index (RSI) is currently at 54.81, which is a neutral level but edging toward overbought territory. This suggests that buyers still have room to push the price higher, albeit cautiously. Additionally, the Moving Average Convergence Divergence (MACD) histogram has turned green, and the signal line crossover indicates a possible continuation of bullish momentum. However, the recent red candle and intraday rejection near $2.32 show short-term resistance. If bulls fail to reclaim this level, XRP could enter a consolidation phase. Despite this potential resistance, the overall momentum remains in favor of the bulls, at least for the time being.