Gate News message: Over the past 24 hours, XRP has become the worst-performing coin among the top ten cryptocurrencies, falling more than 2%, with its trading price dropping to $1.32. This pullback comes as global geopolitical tensions remain elevated and ongoing macroeconomic uncertainty continues to weigh on investor confidence, while the overall market is up slightly by 0.51%.
Despite the price decline, XRP is still showing a steady accumulation trend. Analyst Darkfost noted that since late February, on-chain activity for XRP has rebounded significantly, with withdrawal transaction volume rising sharply. On some trading days, the number of outflow transactions is close to 6,000. Most outflow transactions involve medium-sized holders holding between 1,000 and 100,000 XRP. This kind of behavior typically indicates that investors plan to hold long term, thereby reducing the liquidity of market sellers.
In recent months, XRP has stayed within a trading range of $1.30 to $1.50. Its current price is still more than 60% below its all-time high. However, continued outflows from centralized platforms suggest that potential demand may be quietly increasing. Analysts say whether this accumulation is enough to push XRP to break out of its range and reignite a bull market remains to be seen, but falling on-chain supply is a bullish signal for the medium term.
Seasonal factors may also be a tailwind for XRP. CryptoRank data shows that XRP’s average return in April was +24.8%, with a median gain of +2.05%, which has historically been one of its stronger months. If the accumulation trend aligns with seasonal advantages, XRP could see potential upside opportunities over the coming months.
Overall, despite significant short-term price fluctuations, the rise in on-chain outflow volume and investors’ willingness to hold suggest that XRP’s medium- to long-term demand may increase steadily. Market participants should watch outflow transaction trends and potential seasonal effects to gauge the likelihood of XRP’s breakout move.
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