Crypto Sphere has recently experienced unprecedented market buzz as XRP prices and market performance has skyrocketed, profiting 94% of its token holders. Token’s unprecedented climbing is one of the most notable and significant price increases in the crypto market, beyond the $3.10 price range. The latest information and market analysis shows that tokens have skyrocketed by over 500% over the past nine months. Despite its strong market presence, experts and data on the chain suggest that price drops of more than 20% are expected in the coming weeks.
94% of XRP investors are now green
At this point, XRP has reached a level that rarely occurs in the crypto industry. Approximately 94% of investors in tokens are making profits, and the token price has skyrocketed from $0.40 to $3.11. XRP’s unprecedented price surges position token holders in profits, incites market trust and investor optimism. Data obtained from GlassNode shows that as of Sunday, 93.92% of token distribution supply is profitable.
When it comes to XRP, the historic events of 2018 and 2021 have shown that this kind of unprecedented profitability is always followed by a rapid price adjustment. In January 2018, XRP hit a high of $3.30, with most investors earning profits, but the price gathering ended with a massive 95% drop, with the majority of owners suffering heavy losses.
In April 2021, the cryptocurrency market witnessed another incident involving an XRP token. A new bullish momentum was recorded in the market, which fueled and pushed a record $1.95. When the storm ended, tokens fell by 85%, putting investors in another pain. In both cases, a large number of profitable wallets followed by a strong, profitable run just to fall into price corrections.
XRP Price: Is there a possibility of a 20% decrease in the future?
According to Cointelegraph evaluationthe XRP price is integrated inside a triangle that falls after exceeding $3. Cointelegraph reported that the pattern, which is usually bearish, was defined by a low high for horizontal support of nearly $3.05. They said earlier that month that XRP temporarily smashed under support with a fake out, but only to get back inside the structure and recover. They also added that pressure from retesting lower trendlines increases the risk of critical failures. They argued that a confirmed move below $3.05 could cause a sellout to $2.39 by September, down about 23.50% from current price levels.
The combination of these signals and market data leads to a potential bearish composition. Historic profitability levels and key on-chain metrics strongly support the potential for potential correction risks in the market.
Ainvest.com recommends investors closely monitor key on-chain indicators, trading volume patterns, and macroeconomic development as the market navigates this turning point. They say that the current high percentage of profitable XRP holders is a sign of strong market momentum, but also serves as a potential warning that revisions often follow a period of high participation.
