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XRP extends short-term advance as whale and retail demand strengthen
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FXStreet Forex & Commodities News
Ripple (XRP) rises toward the pivotal $1.10 resistance on Thursday, marking three consecutive days of gains.
According to Santiment, investors with between 100,000 XRP and 1 million XRP have also increased their appetite to hold 11.75% of the token’s total supply, up from 11.45% on July 1.
XRP Supply Distribution | Source: SantimentRetail demand shows signs of increasing, with perpetual futures Open Interest (OI) averaging 2.27 billion XRP on Thursday, up from 2.25 billion XRP the previous day.
However, the current level falls below this week’s high of 2.29 billion XRP, undermining risk appetite.
XRP/USDT daily chartOn the downside, initial support lies at the lower Bollinger band near $1.05, where dip buyers could attempt to stabilize the pair.