- XRP remained in the $0.60 range.
- RSI has been in a very bullish trend for the past few days.
Ripple (XRP) has seen a recent surge in price, which has also had a positive impact on other aspects of market dynamics.
Although the number of XRP holders has not increased significantly yet, existing holders are experiencing a noticeable increase in the value of their investment.
Ripple stands still
According to AMBCrypto’s daily time frame chart analysis, XRP has been resilient in the $0.60 range since its surge around July 17.
Also, the XRP price has been fluctuating between rising and falling over the past few days.
On July 24, XRP rose 3.40% from its opening session price of around $0.59 to reach around $0.61.
However, this gain was short-lived, as by the end of trading on July 25, the price had fallen more than 3%, back to the $0.59 range. The price then rose to around $0.6, a modest gain of just over 1%.
Source: TradingView
At the time of writing, the short-term moving average (yellow line) and the long-term moving average (blue line) were located at support levels of $0.54 and $0.49 respectively.
In addition, the configuration of the moving averages showed that the yellow line remained below the blue line. Still, the slight uptrend in the yellow line suggested that the short-term momentum was improving.
This could signal an upcoming bullish crossover if the trend continues. A crossover would be a positive signal for further upside movement in the XRP price.
The number of holders remains stable
Despite XRP’s recent performance, the total number of holders has remained relatively stable.
According to data, there were about 5.23 million holders at the beginning of this month when the price of XRP was around $0.40. The latest figures show that number has increased slightly to around 5.25 million.
XRP profits increased
According to AMBCrypto’s analysis of Santiment data, XRP’s supply yield has reacted significantly to recent price movements.
Read our Ripple(XRP) Price Prediction 2024-25
Earlier this month, the supply-to-profit ratio jumped sharply from 66% to over 86%.
Source: Santiment
As of July 24, this indicator has further climbed to over 87%, the highest it has been since April. At the time of writing, the profit supply was 86%, which translates into a profit of approximately 86 billion XRP tokens.