3 Diverging Signals Show XRP Investors Holding Firm Despite Market Fear
Despite recent price drops, three diverging signals suggest XRP investors remain confident and are accumulating the asset.Summary
Despite XRP's bearish price action in November, several data points indicate underlying strength and investor confidence. The first divergence shows XRP's market dominance (XRP.D) rising to 4% while its price falls, suggesting investors are favoring XRP over other altcoins. Furthermore, on-chain data reveals a surge in exchange withdrawing addresses, increasing from under 1,000 to over 2,500 since July, indicating investors are moving tokens off exchanges for long-term holding, reducing circulating supply. The third divergence notes that while XRP's price dropped from over $3 to $2.20, the number of holders increased by over 8,000, signaling accumulation opportunities. These positive trends are supported by recent developments, including amended ETF filings by Franklin Templeton and Grayscale, and a Madras High Court ruling recognizing XRP as a legal asset.
(Source：BeInCrypto)