XRP Trapped in 21-Cent Band as Fund Inflows Collapse and Whale Accumulation Continues

XRP's price has been stuck in a tight range between $1.01 and $1.22 for over two months, causing concern among investors.

The token has declined by 71.6% from its peak of $3.66 to its current price of $1.04, with the drawdown from January's price of $2.40 being 56.7%.

On-chain analysis suggests that large holders have continued accumulating XRP throughout the token's slide, absorbing tokens sold by smaller investors and potentially preventing a further decline in price.

The market is waiting for an external catalyst to break out of this range, with technical indicators suggesting that selling pressure may be starting to lose force.