All about XRP’s price flashing 2024-style bullish setup and what it means now
XRP is showing signs of a potential bullish turn after recent declines, with on-chain data mirroring conditions seen before its major 2024 rally. A key indicator is the deleveraging phase, where the Estimated Leverage Ratio has dropped significantly, similar to the flush that preceded its previous 790% surge. While not a guaranteed repeat, open interest has fallen sharply, indicating a large outflow of leveraged capital.
Concurrently, whale activity suggests accumulation, with significant amounts of XRP moving from exchange reserves into private wallets. Furthermore, the Network Value to Transactions (NVT) ratio suggests the asset is currently undervalued, as network transaction volume remains low relative to market cap. This combination of a leverage flush, whale accumulation, and low NVT points to a market structure that could support a price recovery, though analysts caution it is not a certainty.
ambcrypto07/18 02:03