When XRP Met Profit-Taking: A Crypto Drama Unfolds 🚀💰

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So, XRP has been the shining star of the crypto world, blasting past $2 and racking up a whopping 300% gain since October 2024. But guess what? The early birds are cashing in, and it’s like a Black Friday sale for XRP, only it’s not as fun. This profit-taking spree is putting a damper on XRP’s party, keeping it just shy of its 2021 high. 🎉💸

XRP Price Profit-Taking Heats Up Near $2.20

According to Glassnode, XRP wallets have raked in a cool $68.8 million in profits this month, the highest in over a year. Talk about a cash cow! 🐄 This surge in sell pressure is coming mostly from long-term holders who bought XRP for peanuts, like, below $0.60. Even with all the bullish vibes and a solid market structure, XRP just can’t seem to break through the $2.20 barrier. It’s like trying to get a seat at the cool kids’ table, but the cool kids are all taking a break. 😴

Regulatory Wins Offer Support, But Overhang Persists

Ripple’s been on a roll with its tokenized assets and some much-needed regulatory clarity in the U.S. But let’s be real, these wins haven’t been enough to push XRP past its resistance. The token is still dealing with a massive supply overhang from early holders, which is like trying to run a marathon with a backpack full of bricks. 🏃‍♂️brick

Altcoins Still in the Shadow of Bearish Flows

CryptoQuant is dropping some serious FOMO vibes, reporting that the altcoin market is still in the dumps. The 1-year cumulative buy/sell volume difference for altcoins (excluding BTC and ETH) is now at a negative $36 billion, a sharp drop from its brief positive moment in December 2024. Analyst Burak Kesmeci sums it up: “Altcoin investors are MIA, and only a few tokens like XRP, SOL, and RWA-themed tokens are showing any strength.” It’s like a high school dance where only a few kids are actually dancing. 🕺💃

While XRP is still outshining its peers and holding its own in the large-cap category, it’s not immune to the broader market’s funk. Without a major risk appetite boost or a return of capital to Layer 1s, DeFi, or gaming, an altseason this summer is looking pretty unlikely. For now, XRP’s momentum depends on breaking above $2.20 and shaking off those early profit-takers. 🚀💪

Meanwhile, Whales are not Backing Off

But wait, there’s more! Santiment’s latest report shows that the XRP Ledger is more active than ever. Big players, or “whales,” are stepping up, with wallets holding at least 1 million XRP hitting an all-time high of 2,708. That’s like having 2,708 millionaires in one room, each worth over $2.25 million. It’s the first time in XRP’s 12-year history that this many large holders have been recorded. 🎉💰

And if that’s not enough, daily active addresses on the network have exploded, jumping to over 295,000 in just one week. That’s a massive 637% increase from the usual 35,000 to 40,000, signaling a sudden wave of user activity and renewed interest in the ecosystem. It’s like a sudden influx of new fans at a concert, and the energy is palpable. 🤘🎶

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2025-06-20 14:08