XRP Hits Generational Bottom as Analyst Urges Buy-Dip Strategy

The cryptocurrency market has been experiencing significant fluctuations in recent times, with various assets showing both gains and losses. However, according to Emilio Crypto Bojan's analysis, XRP is one such asset that may have reached a 'generational bottom' after losing its $1.30 support.

This loss of support has invalidated previous setups and triggered stop-losses for investors. Nevertheless, the analyst remains bullish on XRP, pointing out that it needs to reclaim $1.30 for the rally to begin again. The #XRPArmy is urged to work towards this goal as the current support must hold.

The fundamentals of XRP remain strong, with the Spot XRP ETFs pulling in significant inflows in May, amounting to $118M to $131M, the strongest month on record. This cumulative inflow has exceeded $1.43B since its launch, demonstrating sustained interest from investors.

Furthermore, institutional investors have been steadily accumulating XRP, with Bitwise, Franklin Templeton, and Grayscale holding a substantial amount of 900M+ XRP in custody. Additionally, whale wallets now control a record 11.33B XRP, the highest in XRP history. The concentration of large holdings has increased, with Santiment confirming that wallets holding 10M+ XRP now hold 45.83B XRP (~$68.5B), representing 68.5% of total supply, the highest since May 2018.