One of the most notable headlines in the cryptocurrency market recently was the loss of value in XRP. XRP is struggling to hold on above a key support level, having fallen as much as 29 percent in the last month. However, interest from investors and market observers has increased significantly. In particular, recent statements point to a noticeable difference between price movements and market interest.
Remarkable Details in Grayscale’s Latest Report
According to the latest report published by digital asset investment company Grayscale, XRP is currently the second most talked about crypto asset in the market. According to Grayscale team’s field research, financial advisors have started receiving constant questions about XRP from their investors. It is stated that the most interesting asset in the market after Bitcoin is XRP.
Despite this picture, there is still a significant weakness in the price charts of XRP. Experts state that although the price is very close to important support levels, the interest of the crypto community remains high and may be reflected in pricing in the future.
Grayscale’s research team stated, “Advisors constantly encounter questions from their investors about XRP. XRP stands out as the most talked about asset in the community after Bitcoin.”
Technical Outlook and Critical Levels
Technically, XRP is struggling to stay above $1.45. If the downtrend continues, it is predicted that sellers may target levels below $1.30. However, if the price stabilizes above $1.45 and achieves a weekly close above $1.40, a short-term bullish reaction towards $1.90 could emerge.
On-chain data has also been observed for some time that large investors have been accumulating XRP during this decline period. The quiet activity seen especially in whale wallets indicates that investors with a high risk appetite are evaluating the decline.
A daily closing of $1.50 is followed by market participants as a sign of strength. However, it is stated that buyers continue to be patient. On the other hand, if there is a clear break below $ 1.30, it is stated that the bullish expectation may be invalid and the price may drop to $ 1.11.
According to experts, the current trend is that despite increased market interest, high volatility in transactions will continue in the short term. However, if strong resistances are overcome, the possibility of a permanent recovery may come to the fore.
