XRP’s Bottom Signal Runs Into a $15.7 Billion Exchange-Supply Test
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XRP's 365-day MVRV rate fell to 0.92, leaving one-year buyers at a loss; Binance's futures open interest dropped by 15.8%, while the exchange's $15.7 billion reserve stands in the way of a recovery.
Cryptocurrency analysis platform Santiment evaluated current on-chain data and investor sentiment for Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL). The analysis noted that Bitcoin whales are in a strong accumulation phase, while XRP is in a more advantageous position than other major cryptocurrencies in terms of some indicators. Santiment analyst Brian, participating in the Thinking Crypto podcast, discussed cryptocurrency […] Source: Bi…
XRP flashes a potential bottom signal, but $15.7 billion in exchange supply threatens recovery
XRP's 365-day MVRV ratio has fallen to about 0.92, which places holders in the metric's window roughly 8% below their cost basis, while XRP trades near $1.33, according to Santiment. Glassnode warned Oct. 19 that more than 40% of large-cap altcoins sit near their own yearly leverage highs. XRP's derivatives data sits between Binance shedding… Read the full story on CryptoSlateUnderstand the crypto stories that matter and what to watch next. Get …
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