"The $1.44-$1.46 zone is the most crowded price point for sellers, where holders who bought there earlier this year are waiting to exit at break-even. Glassnode data shows that roughly 60% of XRP's circulating supply—about 36.8 billion XRP—is held at an average cost basis of $1.44."
"Every time XRP has approached $1.45, those holders don't hesitate to exit. The selling adds pressure as XRP's momentum builds, which is why the coin has struggled to hold gains at or near the $1.45 level."
"For XRP to break through, the buying pressure must outweigh the sell orders waiting at the $1.44-$1.46 price range. If that doesn't happen, even XRP's 23% average performance in May may not be enough to keep it trading above $1.45."
XRP is currently trading at $1.41 after a 2% gain, having previously fluctuated between $1.35 and $1.39. The $1.44-$1.46 price range is heavily populated with sellers, as 1.16 billion XRP are held by those looking to exit at break-even. Approximately 60% of XRP's circulating supply is held at an average cost of $1.44. For XRP to surpass $1.45, buying pressure must exceed the sell orders in this range, despite its 23% average return in May.
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