XRP is currently feeling the pressure following a weekly decline of 12%, dropping it below the $2.15 threshold. On-chain data indicates rising anxiety among holders as critical support levels come into focus.

Anxiety Among Holders

Long-term holders of XRP are beginning to express concerns. The Net Unrealized Profit/Loss (NUPL) metric suggests a shift in sentiment from optimism to anxiety. Analyst Ali Martinez commented:

“Anxiety is creeping in as $XRP flirts with a drop below $2.”

The sentiment has changed as many investors witness their profits diminishing. If the downward trend continues, fear may set in, followed by capitulation.

XRP Chart Source: Ali Martinez/X

Recent reports indicate that nearly 50% of XRP’s supply is presently held at a loss, indicating mounting pressure for late buyers. The token has also entered the oversold territory, enhancing short-term risk.

In anticipation of further price reductions, on-chain data reveals two significant levels below $2.15:

• $1.91: Approximately 1.9 billion XRP were last traded at this level.
• $1.73: Close to 1.8 billion tokens changed hands here.

Below $2.15, the next key $XRP price levels are:

• $1.91
• $1.73

— Ali (@ali_charts) Tweet Link

These levels may serve as support in case of continued decline, as traders might hesitate to sell below their acquisition costs. However, if the price drops below $1.73, XRP could enter a less supported range, allowing for more potential loss.

Mixed Technical Insights

CryptoWZRD noted a bullish closing on XRP’s daily chart, suggesting that surpassing $2.28 might signal a move toward $2.41. Conversely, EGRAG CRYPTO pointed out a bullish divergence on the 3-day chart, stating:

“If it plays out… it could become your exit plan and the rest of the market will likely follow.”

The divergence shows early signs of strength, but confirmation is necessary for a real price movement.

ChartNerd identified a recurrent pattern in XRP’s trajectory involving five downward waves, testing resistance levels, and maintaining support around $2.15. Historical data suggests that conditions are aligned for a breakout if support holds and resistance is overcome, possibly targeting the $3 mark.