Editor's PiCK
[Analysis] "XRP risks repeating the 2022 rout…most short-term investors in the red"
Summary
- Glassnode said it assessed that XRP’s realized price is $1.48, close to the current price, meaning the average return for all investors could turn negative.
- The report added that if XRP falls to $1.48, a structure similar to 2022—when it plunged to $0.30—could reemerge.
- CryptoQuant said XRP whales’ 90-day capital flows are in net outflow, and assessed that if whale selling continues while new buyers are already losing money, an oversupply could occur.
XRP’s recent downtrend has prompted analysis that it could fall back to price levels seen during the 2022 selloff.
According to Cointelegraph, a cryptocurrency-focused outlet, on Feb. 2 (Korea time), crypto analytics firm Glassnode said in a report that “XRP’s realized price (the average cost basis across the circulating supply) is $1.48, and XRP is currently trading very close to that level.” It added that “if the price falls to $1.48, the average return across all investors could turn negative,” noting that “this would mirror a structure similar to when XRP plunged to $0.30 in 2022.”
Persistent selling by large holders is also adding to downside pressure. According to CryptoQuant, XRP whale 90-day capital flows remain in net outflow. The outlet said, “With new buyers already sitting on losses, continued whale selling could lead to an oversupply.”
As of 10:14 p.m. today, XRP is trading at $1.63, down 0.49% from the previous day.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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