Ripple’s (XRP) price has broken above $0.60 on Tuesday, October 31. This marks the first time the milestone has been achieved since mid-August 2023. On-chain data trends show that the bulls are looking to hold out for more gains than exit at the current prices.
After months of stagnation, XRP’s price has surpassed the $0.60 milestone resistance. Can the bulls push for more gains?
XRP Long-term Holders Pushing For More Gains
XRP has attracted significant capital inflows from investors over the past week amid improved regulatory clarity and its recent partnership with Uphold cryptocurrency exchange.
These bullish events culminated in the XRP price breaking above the vital $0.60 milestone on Tuesday, October 2023. However, on a more positive note, a vital on-chain metric currently indicates that XRP investors could hold out for more gains.
Indicatively, XRP Mean Coin Age remains in an upward momentum, having recently hit a 5-month peak of 40.36 on October 28.
Concisely put, the Mean Coin Age metric tracks how long the coins in circulation have stayed unmoved in their current addresses.
Hence, this significant increase in XRP Mean Coin Age observed above is an indication that the majority of long-held coins currently remain unmoved despite the recent price increase.
This signals a bullish disposition among XRP long-term investors. If they continue to HODL, the ongoing price rally could gain momentum to retest the $0.65 territory in the coming days.
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