On-chain data analysis reveals that XRP traders have been selling the cryptocurrency at a loss compared to investors of other top assets. This behavior could actually be positive for XRP. The ratio of on-chain transaction volume in profit to loss indicates whether investors are selling at a profit or a loss. Recent data shows that Bitcoin, Ethereum, Litecoin, and Cardano have had positive values in this ratio, indicating profit-taking. However, XRP stands out as its ratio has turned negative, suggesting investors are participating in a net amount of loss-taking. This can be attributed to XRP’s poor performance relative to other top assets, with a 1% decline in the past week. Loss-taking is often seen as a sign of investors giving up, but historically, it has been bullish for cryptocurrency prices as weak hands sell and stronger hands buy. While XRP’s loss-taking is not significant, it still indicates a bullish sentiment. Currently, XRP is trading around $0.48, down 1% in the last week.
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