XRP Price Stagnation: High Overhead Resistance and Concentrated Supply

The cryptocurrency market has seen steady bullish momentum across various tokens, with XRP being no exception. Despite its growth, the token remains stuck around the $1.40 mark due to high overhead resistance and concentrated supply at higher prices.

According to analysts, this resistance is caused by traders who have amassed positions at lower levels cashing in profits at the psychologically significant zone of $1.50. Additionally, big holders tend to allocate assets during rallies, creating selling pressure that decelerates breakout efforts.