Киты Ripple (XRP) в разных сегментах, влад

Ripple (XRP) whales across various segments holding 100 million tokens and above have replenished their holdings during the recent decline. The price of XRP has fallen nearly 6% since June 1, with deep-pocketed investors buying the dip.

Ripple noted a decrease in its activity on the network amid a price correction.

Daily Market Driver Update: Ripple Online Activity Declines in June

The active address rate is considered an indicator of the usage of the blockchain network. The metric may have a correlation with price, as higher active addresses typically mark periods of increased demand.

The number of active Ripple addresses fell nearly 40% in June, to a level of 19,500 as of June 11, as noted by online analytics tracker Santiment. The decline is fueling bearish sentiment in XRP.

Ripple's supply distribution metric shows that large wallet investors in three segments ranging from 1 million to 10 million; from 100 million to 1 billion and a larger volume of XRP tokens replenished their wallets in June.

The volume of XRP held by the three whale wallet segments increased by almost 2% between June 1 and June 10, as can be seen in the chart below.

Online indicators paint a bearish picture for XRP, fueling the narrative of a correction in the altcoin's price.

Technical Analysis: XRP Poised for Almost 7% Correction

Ripple is likely to pare another 7% decline as seen on the 1-day XRP/USDT chart. On Tuesday, the altcoin lost almost 2% of its value. At the time of writing, the price of XRP on Binance is $0.4876.

Ripple may find support at the June 7 low of $0.4508, which is almost 7% below the current price level. $0.4665, XRP's April 19 low, could serve as further support for Ripple's decline.

The relative strength index (RSI) fell to 35.03, approaching the oversold level of 30. The signal line crossed above the moving average convergence point (MACD) on Thursday, June 6, in a bearish move.