Ripple’s native token, XRP, is showing signs of quiet accumulation, with long-term holders (LTHs) stepping back from selling. On-chain data from Glassnode reveals a 1% drop in XRP’s “liveliness” metric between June 5 and June 8, sliding to 0.809. This metric typically decreases when dormant coins remain untouched, suggesting that seasoned investors are neither liquidating nor actively trading.
Such behavior often precedes price stability or upward movement, as it reflects a vote of confidence from holders with a longer investment horizon. The reduction in liveliness points to a phase of accumulation, as tokens are moved away from exchanges or left untouched—an encouraging signal for bullish investors looking for steady upward pressure.
Positive Funding Rates Highlight Bullish Derivatives Activity
XRP’s momentum isn’t limited to spot market activity. In the derivatives space, the token continues to show strength. Since June 6, the Open Interest-Weighted Funding Rate has remained positive, standing at approximately 0.0099% at the time of writing. This indicates that long positions dominate the market, with short sellers paying to maintain their positions.
A consistently positive funding rate typically signals market optimism and strengthens the narrative of growing investor interest. Traders seem to be aligning with XRP’s current trajectory, reinforcing the idea that the token’s recent upward movement is more than a temporary spike.
Technical Indicators Flash Bullish, but Resistance Remains
While XRP’s broader outlook appears bullish, short-term hurdles persist. The Relative Strength Index (RSI) at 54.81 indicates a neutral stance with room for further upside, but also warns of possible overbought conditions ahead. Meanwhile, the MACD histogram turning green and a bullish crossover signal ongoing momentum.
However, XRP faces immediate resistance near the $2.32 mark. An intraday rejection and red daily candle suggest buyers may be hitting a ceiling. If bulls cannot decisively push past this level, XRP could slide into consolidation. Still, with LTHs accumulating and derivatives markets showing optimism, the momentum appears to favor continued growth—for now.
Also Read: Institutional Demand Pushes XRP ETF Odds to 83% Despite SEC Hesitation
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
