XRP Inches Closer to Its Glory Zone — Only 2% Stands in the Way
XRP entered November with minimal movement. The XRP price has remained nearly flat over the past 24 hours, showing a slight gain of 0.6% at press time. Despite seeming quiet, underlying data reveals an important shift.
On-chain metrics indicate a shrinking exchange supply paired with steady buying, bringing XRP within 2% of a key level referred to as the “glory zone.” This level could determine the token's direction for November.
Key Market Signals
A bullish pattern is forming as selling pressure declines. XRP’s current position is critically close to the zone that might trigger significant market action beyond this calm start.
"The cost basis distribution heatmap — a chart that shows where investors last bought XRP — highlights a dense cluster of holder activity between $2.52 and $2.54. This is the zone around which 1.56 billion XRP were last accumulated."
Such cost-heavy zones usually act as resistance points, because holders tend to sell when prices return to their initial buy range.
Shifting Market Behavior
However, market dynamics are evolving. Glassnode reports that XRP’s exchange net position change dropped from –866 million XRP on October 30 to –965 million XRP on November 1, indicating an 11.4% increase in outflows.
"That means sellers are sending fewer coins into the exchanges, and more are being pulled into wallets for holding."
This suggests growing confidence as more holders move XRP off exchanges to store it securely.
Author’s summary: XRP is showing signs of strengthening with reduced selling and steady accumulation, positioning itself just 2% away from a pivotal level that could shape its November trajectory.
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