- XRP trades below key MAs, with $2.21 as resistance; a break above may target $2.40–$2.50 amid oversold Bollinger Band signals.
- MVRV Z-Score at 21.72 indicates overvaluation, suggesting limited upside unless backed by strong fundamentals or volume.
- Active addresses fell to 14.6K, but holder count rose to 6.36M, indicating short term weakness and long term investor confidence.
XRP maintained its position near the $2.00 level on April 11. The token had a 0.13% gain over the past 24 hours. However, the asset is down by 3.16% in the past week and 7.83% in the past month.
The market cap is at $116.41 billion, a 0.17% rise, while 24-hour volume dropped by 51.74% to $4.09 billion. These changes point to weakening short term interest, despite a solid support at $2.00. XRP’s total supply is nearly capped at 99.98 billion, with 58.27 billion currently in circulation.
Volume Drops as MVRV Remains High
The trading volume is at 41.19 million, indicating moderate interest. Despite holding near key price levels, lower volume suggests a lack of conviction. When volume drops while price remains steady, it can imply accumulation or reduced market activity.
In contrast, the MVRV Z-Score remained elevated at 21.72, far above the overvaluation threshold of 7.09. Historically, such a score indicates the asset might be trading above its fair value. Unless driven by strong fundamentals, this may limit upside movement or support a correction.
Technical Barriers Around Key Moving Averages
XRP continued to trade below its 20 day simple moving average at $2.13. Bollinger Bands show the upper band at $2.50 and the lower band at $1.76. The price’s proximity to the lower band may suggest selling pressure or oversold conditions. This could lead to renewed interest if buyers return.
The 50 day moving average is at $2.21, while the 200 day average was near $2.30. XRP’s position below both levels indicates a bearish bias unless momentum shifts. A decisive break above $2.21 might support a move toward the $2.40–$2.50 range.
On-Chain Metrics Show Mixed Sentiment
Active address count declined sharply from mid March peaks above 600,000 to just 14,600 on April 11. This drop shows a decline in network activity, which often follows price corrections or diminishing interest.
However, total XRP holders increased to 6.36 million, indicating longer term commitment despite recent price fluctuations. The price movement from late 2024 until now shows a rise to $3.38, followed by a steady downtrend.
Current levels near $2.00 suggest a consolidation phase. A break above key averages, combined with rising volume, could shift momentum. If not, XRP may retest lower support between $1.75 and $1.80.
