Key facts
- XRP briefly surged above $1.14 resistance.
- The surge was accompanied by significant trading volume.
- XRP is now testing $1.14 as crucial support.
- There have been consistent inflows into XRP spot ETFs.
- Most XRP holders remain underwater.
- MVRV ratios indicate that most holders are experiencing losses.
XRP has pulled back to test the $1.14 level after a brief surge above this resistance point, which was accompanied by substantial trading volume. This price action suggests that $1.14 is now a critical support level for the cryptocurrency. The inflows into XRP spot Exchange Traded Funds (ETFs) have been consistent, indicating ongoing investor interest in the asset. Despite these inflows, the broader holder base appears to be underwater, with Market Value to Realized Value (MVRV) ratios signaling that most XRP holders are currently realizing losses on their investments. The MVRV ratio is a metric used to assess whether a cryptocurrency is overvalued or undervalued by comparing its current market capitalization to its realized capitalization. A low MVRV ratio, as indicated in this case, suggests that the current market price is below the average purchase price of all coins in circulation, implying widespread unrealized losses among holders.