PiCK

XRP flashs bullish signals…market watches whether it can spark an altcoin rally

Source

YM Lee

Summary

It reported that as Bitcoin (BTC) trades sideways near $70,000, the possibility has been raised that some funds may move into altcoins.
It said TOTAL3, the total crypto market capitalization index excluding Bitcoin and Ethereum (ETH), has recently shown an upward trend, confirming some inflows.
It reported that a surge in XRP withdrawal transactions and about $1.4 billion of inflows into exchange-traded funds (ETFs) have fueled speculation that it could lead the initial move of the next altcoin upswing cycle.

Forecast Trend Report by Period

With XRP recently showing bullish signals, market attention is turning to whether it could lead a rebound in the altcoin market.

On the 11th (local time), crypto (digital asset) media outlet AMBcrypto analyzed that while Bitcoin (BTC) is moving sideways around $70,000, some funds could shift into altcoins. On-chain indicators show that Bitcoin’s supply in loss is approaching the 40–50% range, which overlaps with the early phase of past bearish cycles.

According to CryptoQuant analysis, the long-term holder indicator LTH SOPR is also showing signs of loss realization, suggesting market sentiment is under pressure. In this environment, some traders are reportedly choosing strategies such as shorting Bitcoin and allocating to macro assets like crude oil.

With Bitcoin lacking a clear direction, the possibility of a rebound in the altcoin market is also being discussed. TOTAL3, a measure of the total crypto market capitalization excluding Bitcoin and Ethereum (ETH), has been moving between roughly $640 billion and $740 billion and has recently shown an upward trend. It has risen about 11% since early February and gained about 3% over the past day, confirming some inflows.

Against this backdrop, XRP’s moves are drawing particular attention. Ripple is seeking to secure an Australian Financial Services Licence (AFSL) through the acquisition of Australian payments company BC Payments Australia, and if the deal is completed, the number of its global licenses is expected to expand to more than 75.

Changes have also been detected in on-chain data. According to CryptoQuant, XRP withdrawal transactions on Binance surged multiple times over the past few days, with some stretches recording more than 14,000 transactions.

In addition, about $1.4 billion is said to have flowed into XRP exchange-traded funds (ETFs). This is interpreted as a signal that funds are selectively moving into specific assets rather than broadly across altcoins. If this trend continues, XRP could potentially lead the initial move of the next altcoin upswing cycle.

XRP