Altcoins News
By Steven Anderson
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What Happened. Ripple and its token XRP are going through a strange phase.
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Historical Context. We've seen this before. In 2018, Bitcoin fell below $4,000.
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Why It Matters. The derivatives market tells another story. The taker buy/sell ratio on Binance has fallen to 0.86.
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What to Watch. Three things deserve close monitoring in the coming weeks.
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XRP has fallen below $1. This is not a rumor, but a fact. The threshold had held since late 2024, and now it has broken, with a decline of over 5% in a month.
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Ripple and its token XRP are going through a strange phase. The price is losing ground, small investors are hesitating, yet large wallets continue to absorb.
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We've seen this before. In 2018, Bitcoin fell below $4,000. Major players in the sector took the opportunity to load up. Three years later, Bitcoin reached historic highs.
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What makes the current moment particular is the locking of tokens on centralized exchanges. Inflows have dropped by 79% compared to the 90-day moving average.
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The derivatives market tells another story. The taker buy/sell ratio on Binance has fallen to 0.86. Below 1, it means sellers dominate buyers in aggressive transactions.
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Related Reading: DonAlt Buys Ethereum Near $1,878 Despite Key Resistance Above
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Then there's the network activity. The number of daily active addresses on the Ripple network increased from 26,400 in July to 35,700 in August. A significant rise.
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More context: Virtual Token Jumps 10% as Whale Buying and Volume Surge Push $0.68 Into View
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First, the number of wallets holding more than a million XRP over the next quarter. If accumulation continues at this pace, it would indicate that institutional conviction…
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Also Read: Virtual Token Surges 10% Thanks to Massive Buys and Rising Volume, $0.68 Threshold in Sight
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Next, the balance of XRP ETFs at the end of August. We have gone from $14.86 million to $1.01 million in inflows — a collapse.
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