{"id":539867,"date":"2023-06-27T11:00:03","date_gmt":"2023-06-27T11:00:03","guid":{"rendered":"https:\/\/wncen.com\/?p=539867"},"modified":"2024-06-11T08:41:44","modified_gmt":"2024-06-11T08:41:44","slug":"xrp-traders-show-capitulation-why-could-bullish","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-traders-show-capitulation-why-could-bullish\/","title":{"rendered":"XRP Traders Show Capitulation, Why This Could Be Bullish"},"content":{"rendered":"

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.<\/p>\n

XRP Loss Transactions Have Outweighed Profit Ones Recently<\/h2>\n

According to data from the on-chain analytics firm Santiment<\/a>, 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<\/a>,” which, as its name already hints, tells us about how the profit-taking volume of a specific coin compares with the loss-taking volume.<\/p>\n

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.<\/p>\n

Naturally, all such coins will contribute towards the profit-taking volume. On the other hand, the coins of the opposite case will add to the loss-taking volume.<\/p>\n

Now, here is a chart that shows the trend in this ratio for some of the top assets in the sector over the last few months:<\/p>\n

\"XRP<\/p>\n

Looks like the value of the metric has been positive for most of the coins | Source: Santiment on Twitter<\/a><\/pre>\n
As displayed in the above graph, the indicator has recently had positive values for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Cardano (ADA). Whenever the metric has such green values, it means that the profit-taking volume is more than the loss-taking volume currently.<\/p>\n
This profit-taking spree from the investors of these cryptocurrencies isn’t unexpected, as the prices of the various assets have observed a significant uplift<\/a> during the past week. Following such sharp rallies, at least some holders tend to harvest their gains.<\/p>\n
The odd one out here is XRP, however. From the graph, it’s visible that the metric has turned negative for the asset recently, implying that the investors have been participating in a net amount of loss-taking.<\/p>\n
Related Reading: Bitcoin Long-Term Holder Supply Stagnates At ATH, What Does This Mean?<\/a><\/div>\n
The reason behind these holders selling at a loss would be the poor performance of the coin relative to the other top assets, as XRP has in fact registered a decline of 1% during the past week.<\/p>\n
Usually, loss-taking is a sign that the investors of the asset have started to give up, as they likely believe that the coin would only see a further downtrend in the near future.<\/p>\n
Such capitulation<\/a>, however, has historically actually been bullish for the cryptocurrency’s price, as weak hands exit the coin during these events, while stronger hands buy up their tokens.<\/p>\n
Related Reading: Bitcoin Bullish Signal: Exchange Whale Ratio Plunges<\/a><\/div>\n
The deeper the investors capitulate, the more likely a rise in the price becomes. The XRP investors, though, have only been participating in a slight amount of loss-taking recently. But nonetheless, it’s still a bullish sign for the asset, even if not a particularly major one.<\/p>\n
XRP Price<\/h2>\n
At the time of writing, XRP is trading around $0.48, down 1% in the last week.<\/p>\n
\"XRP<\/p>\n
XRP continues to consolidate | Source: XRPUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"
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 the other hand, the coins of the opposite case will add to the loss-taking volume. Now, here is a chart that shows the trend in this ratio for some of the top assets in the sector over the last few months: Looks like the value of the metric has been positive for most of the coins | Source: Santiment on Twitter As displayed in the above graph, the indicator has recently had positive values for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Cardano (ADA). Whenever the metric has such green values, it means that the profit-taking volume is more than the loss-taking volume currently. This profit-taking spree from the investors of these cryptocurrencies isn’t unexpected, as the prices of the various assets have observed a significant uplift during the past week. Following such sharp rallies, at least some holders tend to harvest their gains. The odd one out here is XRP, however. From the graph, it’s visible that the metric has turned negative for the asset recently, implying that the investors have been participating in a net amount of loss-taking. Related Reading: Bitcoin Long-Term Holder Supply Stagnates At ATH, What Does This Mean? The reason behind these holders selling at a loss would be the poor performance of the coin relative to the other top assets, as XRP has in fact registered a decline of 1% during the past week. Usually, loss-taking is a sign that the investors of the asset have started to give up, as they likely believe that the coin would only see a further downtrend in the near future. Such capitulation, however, has historically actually been bullish for the cryptocurrency’s price, as weak hands exit the coin during these events, while stronger hands buy up their tokens. Related Reading: Bitcoin Bullish Signal: Exchange Whale Ratio Plunges The deeper the investors capitulate, the more likely a rise in the price becomes. The XRP investors, though, have only been participating in a slight amount of loss-taking recently. But nonetheless, it’s still a bullish sign for the asset, even if not a particularly major one. XRP Price At the time of writing, XRP is trading around $0.48, down 1% in the last week. XRP continues to consolidate | Source: XRPUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":539876,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[3680,4531,87392,88499,88500,10972],"class_list":["post-539867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ripple","tag-xrp","tag-xrp-bullish","tag-xrp-capitulation","tag-xrp-loss-taking","tag-xrpusd"],"acf":[],"yoast_head":"\nXRP Traders Show Capitulation, Why This Could Be Bullish<\/title>\n<meta name=\"description\" content=\"Data shows the XRP traders have been selling at a loss, unlike holders of the other top assets. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Traders Show Capitulation, Why This Could Be Bullish","url":"http:\/\/wncen.com\/news\/xrp-traders-show-capitulation-why-could-bullish\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/xrp-traders-show-capitulation-why-could-bullish\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/kanchanara-0kRsP5iRZI4-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/kanchanara-0kRsP5iRZI4-unsplash-scaled.jpg?fit=2560%2C1703"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","xrp","xrp bullish","xrp capitulation","xrp loss taking","xrpusd"],"dateCreated":"2023-06-27T11:00:03Z","datePublished":"2023-06-27T11:00:03Z","dateModified":"2024-06-11T08:41:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Traders Show Capitulation, Why This Could Be Bullish\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-traders-show-capitulation-why-could-bullish\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-traders-show-capitulation-why-could-bullish\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/kanchanara-0kRsP5iRZI4-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/kanchanara-0kRsP5iRZI4-unsplash-scaled.jpg?fit=2560%2C1703\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"xrp\",\"xrp bullish\",\"xrp capitulation\",\"xrp loss taking\",\"xrpusd\"],\"dateCreated\":\"2023-06-27T11:00:03Z\",\"datePublished\":\"2023-06-27T11:00:03Z\",\"dateModified\":\"2024-06-11T08:41:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/kanchanara-0kRsP5iRZI4-unsplash-scaled.jpg?fit=2560%2C1703","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/539867"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=539867"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/539867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/539876"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=539867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=539867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=539867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}