Investor demand for XRP falls as the bull market stalls — Will traders defend the $2 support?
Long-term whales and new investors are offloading XRP as the bull market loses momentum. Is a trip below $2 on the cards?
Between Oct. 25, 2024, and Jan. 16, 2025, XRP (XRP) had one of the best rallies of the current bull market, gaining 600% as investors piled in with the hope that a pro-crypto presidency would benefit Ripple and its cryptocurrency.
During this time, the quarterly average of daily active addresses jumped by 490% and XRP price hit a 7-year high.
XRP’s 1-day chart. Source: Cointelegraph/TradingView
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