July losses exceed $75 million for Ripple traders, XRP falls below crucial support

Ripple whales have lost money on XRP in the last month while regular investors buy it.

Ripple's MVRV has entered the opportunity zone, where XRP usually rebounds.

XRP lost support at $0.4508, Ripple's June 7 low.
On-chain evidence suggests whales are capitulating as Ripple (XRP) hits crucial support at the June 7 low of $0.4508 on Thursday. Large XRP wallet holders sold at a loss while small investors and retail traders bought.

New developments in the SEC vs. Ripple litigation. After Judge Amy Berman Jackson's Binance case finding highlighted Judge Analisa Torres' ruling on XRP not fulfilling Howey's secondary market sales restrictions, the payment remittance business submitted a letter of additional authorization on Tuesday. The letter was answered Wednesday by the SEC.

Attorney James Filan shared Ripple's Tuesday lawsuit letter of supplementary power. The letter was answered Wednesday by the SEC.


The Market Value to Realized Value (MVRV) indicator helps detect asset price reversals and local tops and bottoms. The 30-day MVRV of XRP fell 4.42% on Thursday. XRP is cheap and in the opportunity zone, says this statistic.

When XRP's MVRV reached this level, its price trend reversed, indicating the cryptocurrency may rebound.
Ripple

Key support for Ripple is $0.4508, the June 7 low. The altcoin has fallen since March 11. Retail traders bought during the market sell-off while Ripple whales sold. XRP may have avoided a huge sell-off.

A sell-off may send XRP below $0.4188, its April 13 low.

After recovering from its recent dip, XRP might rise beyond the Fair Value Gap (FVG) between $0.5008 and $0.5164.


The bearish thesis for XRP might be disproven by a daily candlestick close above $0.4955, the 23.6% Fibonacci retracement of the slide between the March 11 high of $0.7440 and the April 13 bottom of

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