XRP Nears Critical Support at $1.00 Amid Weak Technical Outlook
Ripple's XRP token is trading near its critical support level of $1.00, according to technical analysis from TMGM trading.
XRP whales have been increasing their holdings despite the token's persistent sell-off, with the number of wallets holding between 100 million and 1 billion XRP rising sharply to represent 11.79% of the circulating supply as of Friday, up from 11.65% the day before.
The technical structure of XRP remains weak, with strong supply zones and deteriorating momentum indicators. The Relative Strength Index (RSI) is hovering near 37 and the Moving Average Convergence Divergence (MACD) is in negative territory, suggesting sellers retain control.