According to on-chain data from Santiments, XRP stands out as the only major cryptocurrency showing slight bullish signals for the future.
Last week, the global digital market experienced a positive performance, with significant cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) witnessing price increases of over 12% and 8% respectively. However, in contrast to this rally, Ripple’s native cryptocurrency, XRP, was the only major token to show a decline in value.
The price of XRP is currently experiencing a rally, following positive updates related to Ripple and its defense against the U.S. Securities and Exchange Commission (SEC). On a year-to-date (YTD) basis, XRP has shown an impressive 42% increase. However, over the past 90 days, it underwent a minor correction, declining by approximately 12%.
According to on-chain data from Santiments, the largest crypto assets are currently ranging at the beginning of the week. However, among them, XRP stands out as the only major cryptocurrency showing slight bullish signals for the future.
The reason behind XRP’s slight bullish signs is attributed to mild trader capitulation. Tokens that are being transacted at a higher ratio of loss compared to profit have a greater likelihood of experiencing a price surge. Data indicates that XRP has seen more transactions resulting in losses this week in comparison to other cryptocurrencies.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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