Ripple (XRP) Outshines ETH, DOGE, ADA in This Crucial Metric: Details – Crypto News – Crypto News
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Ripple’s (XRP) Surge to $3 Triggers Over $55 Million in Short Liquidations Ripple’s (XRP) Surge to $3 Triggers Over $55 Million in Short Liquidations

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Ripple (XRP) Outshines ETH, DOGE, ADA in This Crucial Metric: Details – Crypto News

Published

7 months ago

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TL;DR

  • Ripple investors trail only those with BTC allocations in terms of total supply in profit, shows recent data from Santiment.
  • At the same time, XRP holders in the green are a lot more than investors in ETH, DOGE, ADA, and LINK.

XRP’s price has failed to produce any significant moves in the past week or so, and is even 5% down within this timeframe. It now sits close to a crucial support level ($2.3), which could lead to another retracement to $2 if it’s broken to the downside, according to analysts.

However, this dull price action hasn’t harmed XRP investors’ (paper) profits. Santiment reveals that those invested in the fourth-largest cryptocurrency are well in the green, with 98.3% of the total supply standing in profit.

This places XRP in a very high position according to this straightforward metric. The asset is second only to bitcoin, whose investors stand slightly higher at 98.4%. What’s particularly interesting is that BTC currently sits just inches away from its all-time high of last week (almost $112,000), and it’s expected that nearly all holders will be in the green.

However, the situation for XRP is a lot different since it is more than 30% away from its January 2018 peak of $3.4 (CoinGecko data).

Furthermore, XRP’s total supply in profit is well above some of the asset’s most notable competitors. The percentages for ETH, DOGE, ADA, and LINK are as follows: 71.5%, 77.9%, 71%, and 80.5%.

However, Santiment warned that when this metric is very high, as is the case with XRP and BTC, the “odds of profit-taking and a short-term pullbacks rise.”

In contrast, when holders are mostly at a loss, it “often indicates fear, undervaluation, and a potential opportunity to enter or add to a position before a price recovery.”

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