XRP Price Drops Despite ETF Approval — Holders Could Shift Momentum

XRP’s price has shown little growth in recent days despite the indirect approval of its ETF, the Hashdex Nasdaq Crypto Index US ETF, which many expected to drive momentum. 

Mixed signals from the broader market continue to suppress the altcoin’s progress. Still, long-term holders (LTHs) appear committed, attempting to provide stability and push XRP higher.

XRP Holders To The Rescue

The Liveliness indicator highlights encouraging trends for XRP, showing a steady decline over the past two weeks. Currently at a two-month low, the reading suggests that supply movement from LTHs has slowed significantly, pointing to holding or accumulation rather than large-scale selling.

This behavior indicates confidence among long-term investors, who historically have a strong influence on XRP’s trajectory. Their decision not to panic sell despite market uncertainty provides a cushion against sharp corrections. It also shows readiness to hold until a meaningful price recovery presents itself.

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XRP Liveliness. Source: Glassnode

Looking at macro conditions, the LTH Net Unrealized Profit/Loss (NUPL) provides further insight into investor behavior. The metric shows that LTHs are refraining from selling largely due to limited realized profits at present levels. This restraint reduces immediate downside risk.

Historically, LTH selling tends to intensify only when the NUPL crosses above 0.7, with stronger pressure emerging beyond the 0.75 mark. Since XRP has not reached these thresholds, the token still has room to recover without significant risk of mass profit-taking from major holders.

XRP LTH NUPL. Source: Glassnode

XRP Price Needs A Push

At the time of writing, XRP trades at $2.84, just under the $2.85 resistance. A flip of this barrier into support would likely signal the beginning of a reversal, strengthening bullish sentiment. Traders are closely watching this zone for confirmation.

If support from LTHs holds, XRP could climb toward $2.94 in the short term. Breaching this level would pave the way for a further rise to $3.02, signaling broader recovery potential and invalidating near-term bearish concerns.

XRP Price Analysis. Source:  TradingView

However, if market conditions worsen or LTHs shift their strategy to selling, XRP could lose momentum. The altcoin risks sliding toward $2.75 or even deeper to $2.64, jeopardizing bullish expectations and prolonging the consolidation phase.