Main to remember::
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The XRP rally at $ 3 has pushed 94% of the offer in profit, a level that has historically marked macro.
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XRP is in the “believer-condial” area, show the metrics of Onchain, echoing the peaks in 2017 and 2021.
The XRP rally (XRP) at more than $ 3 has pushed almost 94% of its supply in circulation to profit, according to Glassnode data.
On Sunday, the supply as a percentage of XRP for profit was 93.92%, highlighting solid investor gains, cryptocurrency rallied by more than 500% in the last nine months to $ 3.11 against less than $ 0.40.
90%> Profit offer is generally a top macro XRP
Such high profitability has historically reported overheated conditions.
At the beginning of 2018, more than 90% of holders were in profit when XRP culminated almost $ 3.30 before a price reversal of 95%. A similar configuration appeared in April 2021, when profitability levels above 90% preceded an accident of 85% from the summit almost $ 1.95.
Large profitability highlights strong gains in investors, which generally increases the risk of distribution because traders can seek to make profits. A similar scenario could take place now.
NUPL MIRROS 2017 and 2021 from XRP
The Net -made Net -made (NUPL) benefit / Net loss (NUPL) further signals higher risks.
The indicator, which follows the difference between gains and losses not made through the network, has entered the “belief-marital” area, a phase historically observed before or during markets in the market.
For example, at the end of 2017, the NUPL of XRP increased at similar levels as well as the XRP price exceeded $ 3.30. A comparable model took place in April 2021, when the NUPL readings greater than 0.5 coincided with the top of XRP almost $ 1.95 before another net slowdown.
The current trajectory suggests that investors are strongly in profit but not yet in full “euphoria”. But the risk of taking advantage and distribution will intensify if the NUPL has increased for the first time since 2018.
XRP can absorb the potential sales pressure and avoid a deeper correction less than $ 3 if it can attract new entries, driven by institutional demand and a larger amount of launch.
The risks of classic lower XRP 20% configuration decreases
The XRP price is consolidated inside a descending triangle after exceeding $ 3.
The pattern, generally lower, is defined by lower peaks against horizontal support almost $ 3.05. Earlier this month, XRP broke briefly below the support of a false, only to bounce inside the structure.
The pressure of repeated retailers of the lower trend line increases the risk of a decisive rupture. A decision confirmed below $ 3.05 could trigger a sale at $ 2.39 by September, down approximately 23.50% compared to current price levels.
In relation: Is the price of $ 30 XRP a real possibility for this bull cycle?
On the other hand, the bulls must break above the descending resistance line to resume the momentum upwards and invalidate the downstream configuration. Many believe that the XRP price could reach $ 6 in this scenario.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.