The recent price performance of XRP has disappointed investors as the altcoin has been on a downtrend since the beginning of the month.
From a technical standpoint, there are signs indicating that XRP may be entering a consolidation phase, with mixed sentiments among investors.
Currently, there are conflicting signals among XRP investors. Large holders, known as “whales,” have been actively accumulating XRP, purchasing over 10 billion XRP in the past two days, worth around $470,000.
This accumulation is seen as a potential catalyst for a recovery, especially as the price of XRP has been steadily declining.
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However, retail investors seem less optimistic, as their online activity has decreased and they are reluctant to engage in trading.
The disparity between the increase in whale activity and the decrease in retail investor activity, particularly in terms of daily active addresses, indicates a bearish sentiment among small and medium investors.
Despite the buying activity from major investors, this disparity may pose a challenge to the recovery efforts of XRP.
XRP is currently trading at $0.48, slightly above the key support level of $0.473, and may continue to trade sideways amidst these conflicting signals.
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