On-chain data shows that XRP traders have been selling at a loss recently, unlike investors of the other top assets. Here’s why this can be bullish for the coin.
XRP Loss Transactions Have Outweighed Profit Ones Recently
According to data from the on-chain analytics firm Santiment, XRP has differed from the rest of the top cryptocurrencies in terms of the loss-taking behavior of the investors. The relevant indicator here is the “ratio of on-chain transaction volume in profit to loss,” which, as its name already hints, tells us about how the profit-taking volume of a specific coin compares with the loss-taking volume.
This metric separates these two volumes by going through the chain history of each coin being transacted to see what price it was previously moved at. If this previous selling price for any coin was less than the current spot value, then that particular coin is now being sold at a profit.
Naturally, all such coins will contribute towards the profit-taking volume. On
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