If you’ve ever wondered what happens when 1.7 billion XRP tokens gather in one place, the answer is simple: chaos, panic, and probably a few frantic Zoom calls among crypto bros. According to Glassnode’s latest data, the $2.81 level has become a make-or-break support zone for XRP. Think of it as the financial equivalent of a game of Jenga-every token is a block, and the market is holding its breath to see if it collapses.
Why supply density matters (or doesn’t, if you ask me)
Glassnode’s “cost basis distribution heatmap” is basically a colorful mess of numbers and lines that analysts claim helps identify support and resistance levels. In layman’s terms, it’s a fancy way of saying, “Here’s where people bought their XRP and are now either panicking or grinning like maniacs.” The heatmap reveals a second major supply cluster at $3.26, where over 1.05 billion tokens were accumulated. For context, the $3.57-$3.58 range looks like a token wasteland with just 2.9 million tokens. If crypto were a party, that range would be the guest who forgot to bring snacks. 🍪
XRP’s anemic performance: A love letter to mediocrity
After a brief July surge that made XRP feel like the star of a crypto rom-com, the token has since sputtered like a vintage car refusing to start. CoinGlass data shows derivatives trading volume dropped 44%, and open interest plummeted 82%. If crypto were a movie, this would be the part where the protagonist mutters, “I’m fine,” while slowly backing away from the edge of a cliff.
Currently, XRP is 15% below its July 18 all-time high of $3.67, which is less impressive than your cousin’s TikTok dance moves. It briefly dipped below $2.81 on August 2 but recovered as if someone whispered, “Don’t panic… probably.” For what it’s worth, XRP is still up over 50% this year-outperforming Bitcoin, which can only muster a side-eye in response. Last year, it surged 237%, which is either a miracle or a very aggressive marketing team. 🚀
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2025-08-17 13:05