The recent price performance of XRP has been disappointing for investors, as the altcoin has been on a downward trend since the beginning of the month.
There are indications that XRP may enter a consolidation phase, with investors showing mixed sentiments. Currently, there are conflicting signals among XRP investors. Large holders, known as whales, are aggressively accumulating XRP, having acquired over 100 million XRP in the last two days, amounting to approximately $47 million.
This accumulation is seen as a potential catalyst for recovery, especially as the price of XRP has been steadily declining.
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However, retail investors appear less optimistic, as evidenced by their reduced activity on the network and reluctance to engage in transactions.
The divergence between whale accumulation and decreasing retail investor activity, especially in terms of daily active addresses, suggests bearish sentiments prevailing among smaller investors.
This discrepancy may pose a challenge to the efforts to recover XRP, despite the buying activity of large investors.
Currently, XRP is trading at $0.48, slightly above the critical support level of $0.473, and may continue with sideways trading against the backdrop of these conflicting signals.
