Key Support Cluster Identified for XRP
In the high-stakes arena of altcoin volatility, Ripple’s XRP is approaching a make-or-break moment. A compelling Glassnode distribution heatmap, spotlighted by @allcharts on November 22, uncovers a staggering 1.8 billion XRP tokens amassed around a $1.75 billion aggregate cost basis—averaging about $0.97 per token from earlier cycles. This isn’t mere chart noise; it’s a battleground forged from institutional and retail conviction, now under siege as XRP probes lower.
Market Dynamics and Trading Levels
The visualization, which garnered 19K views in hours, traces XRP’s turbulent 2025 path. Once surging past $3 on SEC victory hype and ETF rumors, XRP has retraced sharply, shedding 25% from its July peak of $2.80 amid regulatory fog and Bitcoin’s dominance play. Trading at $2.10 today, the token teeters near this dense purple cluster on the heatmap, where thin liquidity above suggests sellers are waning. A hold here could trigger a short-covering frenzy, flipping the narrative from capitulation to accumulation.
Historical Context and Technical Analysis
This $1.75B zone’s significance? It’s the psychological anchor from 2024’s bull run, when banks and payment firms piled in for XRP’s ODL (On-Demand Liquidity) prowess. The XRP Ledger’s speed—1,500 TPS with sub-second settlements—positions it as a cross-border powerhouse, especially post-SEC clarity. Yet, persistent FUD, muted network activity (DAAs down to 44K from June’s 577K), and whale profit-taking (up 240% to $220M daily) have fueled the bleed. Glassnode data flags overhead resistance at $2.38-$2.40 (3.23B tokens) and $2.52-$2.54 (1.23B), but the $1.75B floor offers asymmetry: defense could propel to $2.50 liquidity grabs.
Outlook and Trader Sentiment
Traders are riveted—a decisive weekly close above $2.20 validates the support, eyeing $2.80 next. Breach it? Sub-$1.50 becomes probable, echoing 2022 lows. @allcharts’ insight highlights the edge: conviction holders vs. panic sellers. In a market where Bitcoin lounges at $98K, XRP embodies altcoin resilience—or fragility. For speculators, this heatmap crucible is prime hunting ground: absorb the bids, and fortunes flip. Volume tells the tale; the ledger’s watching.