- According to Santiment’s data, while most altcoins experience slight growth, it has been revealed that XRP
has had more harmful transactions than profitable ones.
- At the time of writing, XRP is trading at $0.4793 and has a market value of over $25 billion.
- Whale activity has increased, but the token’s price is falling, indicating that major players may be selling their assets.
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While most altcoins experience slight growth, XRP token is moving differently compared to other altcoins and bullish signals are strengthening.
XRP Token is Moving Differently
According to Santiment’s data, while most altcoins experience slight growth, it has been revealed that XRP has had more harmful transactions than profitable ones. Historically, this can be interpreted as a bullish sign. Coins with a higher ratio of harmful transactions compared to profitable ones are more likely to gain value.
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At the time of writing, XRP is trading at $0.4793 and has a market value of over $25 billion, making it the sixth largest cryptocurrency.
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Looking at the daily chart of XRP, it can be seen that the bullish rally of the token may be delayed as most market indicators indicate a bearish market. For example, the MACD indicates bearish pressure in the market. According to Exponential Moving Average (EMA) data, the difference between the 20-day and 55-day EMA is also decreasing, which is another bearish sign.
However, XRP’s Chaikin Money Flow (CMF) indicates a bullish outlook as it has recorded an upward increase.
What Do the Metrics Say?
The metrics also say similar things. Whale activity has increased, but the token’s price is falling, indicating that major players may be selling their assets. Ripple’s network growth has also slightly decreased.
In addition, XRP’s 1-week price volatility has decreased, reducing the likelihood of a sudden rise. However, XRP’s MVRV Ratio has significantly decreased, which may indicate lower levels in the market.
High Trust in XRP
XRP’s social volume remained relatively stable in the past seven days. This metric indicates that the token is still a topic of discussion in the crypto space.
Furthermore, trust in the token has significantly increased in the past week, as indicated by weighted sentiment analysis.