A Flush of Korean Investments in February Saved XRP’s $2 Price Point – Sources Reveal It Could Have Been Worse

XRP is down to $2.34 today. But it is still maintaining a price of more than $2, throughout the week. All thanks to a bunch of Korean investors who kept putting their bids on XRP, even after the recent correction.  

The recent XRP crash leveraged investors on UpBit and Bybit to purchase more XRP units. The increasing CVD value suggests the same.  

XRP instead of ETH 

Investors in Korea have been aggressively swapping XRP and BTC with ETH. When XRP was at a staggering low of $1.78, a lot of Korean investors let go of their ETH stash and bought BTC and XRP.  

An anonymous analyst reports that Koreans have been buying XRP crypto stock throughout the last 2 months. It is one of the prime reasons why this altcoin could maintain a psychological level of $2, even after going down to a recent time low of $1.78.  

XRP Slowly Improving  

A big share of people placed their bids under $2. A sharp increase in the CVD on 3rd February proves the same.  

Within an hour of dropping to $1.78, the old coin value crawled up to $2.15.  

What’s next?  

Some on-the-spot purchases kept XRP alive for the time being. Meanwhile, the altcoin could also maintain its price of about $2. But crypto analysts say that some more big whales could be selling their shares soon. Once that happens, the price may fall below their recent low point of $1.78.  

Movements detected already do not bear any good sign for XRP. More than 15000 transactions occurred over the last 48 hours. It includes a significant number of whales moving more than 180 million tokens to Binance. In the last 60 days, it is the biggest transaction by whales towards an exchange.  

A total flush after 3 months of stability  

February has been a pathetic span for XRP. On. 6th Feb, it reached the heights when a certain crash of 42% omitted a major part of open interest.  

It means the game that investors made in the last three months was flushed out in a moment. Naturally, the funding rate became low simultaneously.  

What could it mean going forward?  

Among all odds, XRP is planning to retest the order block daily. It can hook at least some buyers as the demand between $2.20 to $2.33 seems to be static. Meanwhile, it seems XRP would open up the next $2 retest anytime in February.