Assets covered: Ripple (XRP)

Metrics used: Social Volume, Daily Active Addresses, Exchange Inflow, Network Growth, Mean Dollar Invested Age, MVRV, Holders Distribution, Development Activity, Age Consumed, Network Profit/Loss.

XRP has almost doubled its value over the past week. It’s price rally seemingly lacks any specific news-related catalyst. How sustainable is it? Let's see what onchain data tells us.

Worrying signs

Social Volume:

The amount of XRP mentions in crypto social media usually spiked before the price tops.

It spiked again yesterday and today.

What are these XRP mentions right now?

Sentiment board:

We compiled it manually from the messages containing 'XRP' last 24h in crypto social media. 19 rockets 🚀! Ok, seriously, bullish sentiment dominates heavily.

Active addresses:

This picture seems to be driven by the rally. Also it looks like we are having a lower high on this metric at the very last data point. May be it will change. But now this looks like a decreasing double DAA top exactly as in August, before the price topped.

Exchange Inflow:

This metrics seems to be quite on the money. Most spikes were leading indicators.

Question is: has the latest spike been entirely absorbed or not? It's the highest since black Thursday (ignoring 29 Oct outlier). Going to be interesting to see what's going on.

Network Growth:

Mean Dollar Invested Age:

MVRV:

Whales vs Retail (Holders Distribution):

Good signs

Development Activity:

Age Consumed:

Not that high. Just a little. People are still standing by.

Network Profit/Loss:

Taking profit is good until spikes start to decline on a growing price (divergence). We don't see it yet.

Summing up

Overall that's not looking great for XRP.

We've got extreme bullish sentiment, huge social spikes, huge DAA, big exchange inflow, big MVRV, profit taking. We've got a little bit of mean dollar invested age dipping pointing to a redistribution. Quite a lot of indicators pointing to overvalued conditions.

On the other hand we have an airdrop on December 12. So price could still surge until this date gets closer.

And finally, who would go against the XRP Army?

We keep watching Ripple.

Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.