$XRP Sees Record Accumulation and Potential Reversal on Moscow Exchange

The Moscow Exchange has expanded its cryptocurrency offerings with the launch of four indices and settled Futures markets, including one for XRP. This development has led to an increase in liquidity and a record accumulation of $XRP by medium-to-large-sized holders.

According to Santiment, the number of wallets holding at least 10,000 XRP has surpassed 332,000, indicating that large players are becoming increasingly convinced of XRP's global potential. This is further supported by Ripple's CEO reiterating the value of the company's offerings, including cheap and fast transactions.

The price action of $XRP has been approaching a trendline support level, which could trigger a reversal if broken. The MACD bars are faintly red, indicating seller exhaustion, while the Chaikin Money Flow (CMF) is showing signs of reversing its decline. However, traders must be cautious of a breakdown below the trendline support level.