XRP's price has been stuck in a four-week consolidation phase, causing frustration among investors who had initially seen optimism in the altcoin's value. The data from HODL Waves indicates that long-term holders are holding steady, adding to their positions despite a dip in buying momentum earlier this week.
However, the reluctance of some holders to sell has been providing stability to XRP's price, preventing it from falling further. This trend suggests that these buyers are stuck, unable to take profits or cut their losses, and may eventually lose patience if the consolidation persists.
The liquidation map shows a heavy skew towards short positions, with $148 million in potential short liquidations. A breach of the $1.47 resistance could trigger significant short liquidations, potentially causing a temporary boost to XRP's price.