Whales reap the benefits of prior accumulation thanks to XRP’s partial triumph. However, liquidations hit a yearly high, so traders might need to exercise caution.
Therefore, hitting the top spot meant that no other altcoin matched XRP’s dominance in market and social activity.Perhaps, it is necessary to also consider the rate of returns since the price spike. So, in doing this, we look at the Market Value to Realized Value ratio. At press time, the seven-dayThis ratio measures tops and bottoms depending on the market cycle while considering traders’ buying and selling behavior.
Conversely, a decrease implies that holders have a higher market value than speculators. So the spike may call for caution as it tends closer to the market top, with traders taking realized profits.Santiment’s 13 July analysis also agreed with this notion. According to the on-chain information portal, the XRP win is undoubtedly aHowever, it also noted that traders may need to wait for a cool-off period or consider an MVRV ratio retracement before searching for a good entry point.
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