XRP Price Under Pressure from Prolonged Downtrend and Profit-Taking

The current market dynamics of XRP are complex, with conflicting on-chain developments suggesting both optimism and caution.

Large XRP holders have been accumulating the altcoin throughout February, increasing their collective ownership to 83.7% of the total supply.

However, profit-taking activity has picked up pace, reaching $207 million in the past 24 hours, which is a significant wave of profit booking in nearly a month.