As investors pocket $1.5 billion, Ripple's XRP struggles at $2.60

After Ripple introduced RLUSD, XRP rose over 10%.
XRP investors made roughly $1.5 billion in 24 hours after its price increase.

XRP struggles at $2.60 as investors aim $4.75.

Ripple (XRP) is up 3% on Wednesday as investors took profits after the RLUSD stablecoin debut. Whales have absorbed profit-takers' selling pressure as XRP struggles around $2.58 barrier.

After RLUSD launched, XRP investors made $1.48 billion.
RLUSD has gone live on Uphold, MoonPay, Keyrock, Archax, Bitso, and CoinMENA, Ripple said in an X post on Tuesday.

Global exchanges now list Ripple USD (RLUSD).


Over $1.48 billion in gains were made by XRP investors after the surge. This was XRP's second-highest single-day profit in 2024.

The high prices notwithstanding considerable profit-taking suggest purchasers have weathered the selling action.

However, strong profit-taking may indicate local market peaks. This may explain XRP's consolidation since December 2.

Santiment data reveals XRP whale holdings surged by over 800 million XRP, worth roughly $2 billion, in the previous two days, indicating whale purchasing pressure. The rising number of whale holdings indicates market bullishness.


Despite bullish whale activity, XRP's Weighted Sentiment is low, suggesting the market doesn't like its price.

Ripple's XRP struggles at $2.58 barrier as it seeks $4.75 all-time high.

Coinglass data shows approximately $26 million in liquidations in the previous 24 hours, up XRP 3%. Long liquidations totaled $12.74 million, while short liquidations $13.22 million.

After hitting resistance at $2.58 on Wednesday, XRP confirmed a flag pattern. A important support level for the remittance-based token is the flag channel's upper border.


If XRP breaks resistance around $2.58 and $2.92 with significant volume, it might break its all-time high and climb to $4.75.


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