XRP traders capitulate, potentially bullish.
The data on the blockchain indicates that XRP traders have recently been selling at a loss, unlike investors in other top assets. This could be a positive sign for the coin. According to on-chain analytics firm Santiment, XRP has shown a different trend from other top cryptocurrencies in terms of loss-taking behavior of investors. The “ratio of on-chain transaction volume in profit to loss” measures how the profit-taking volume of a specific coin compares to the loss-taking volume. When the profit-taking volume exceeds the loss-taking volume, the metric has a positive value, and this trend has been observed for Bitcoin, Ethereum, Litecoin, and Cardano. However, XRP has been an outlier in this regard, with the metric turning negative recently, indicating that investors have been participating in a net amount of loss-taking. This is likely due to the poor performance of XRP relative to other top assets. Historically, loss-taking has been a bullish sign for the cryptocurrency’s price, as weak hands exit the coin and stronger hands buy up their tokens. XRP is currently trading at around $0.48, down 1% in the last week.