XRP Hits Wall of Resistance as 75% of Holders Still Underwater
XRP is struggling to regain momentum after falling from its $1.42 high on September 15. The coin's market cap has dropped 8.25% to $79.75 billion, while 24-hour volume rose 19.26% to $5.97 billion, indicating active selling.
About three-quarters of XRP's invested value was acquired above $2, leaving many holders waiting to break even. If the price reaches that level, some may sell, creating another layer of resistance.
The realized capitalization of XRP is around $1.48, and with XRP at $1.26, about 60% of the supply is underwater. Separately, 75% of XRP's realized cap comes from tokens that were last moved when XRP was above $2.
XRP faces a wall of resistance above its current price, with levels at $1.41, $1.47, $1.55, $1.66, $1.86, and $2.00. Each level represents a group of holders with a different cost basis, creating more potential selling pressure as XRP climbs.