Attention, my people! 🚀 Do you remember that XRP surge that got us all talking? Well, hold on because things haven't calmed down yet, and there are some data that make us think.
XRP investors were going crazy moving their coins to exchanges, and it's no surprise! On July 23, there was a historic peak in that movement, which clearly told us one thing: a massive sell-off was coming! 📉
And yes, more than 90% of XRP were making profits, so people took advantage to cash in. Who wouldn't want to secure their money when things look good? Since that day, things have calmed down a bit, but watch out! People are still putting their XRP on the platforms. The good news is that it seems the worst of the selling is over. Phew, a breath of relief! 😮💨
Does XRP still have room to grow, or has it given all it had to give? 🌱
Now, the million-dollar question is whether XRP has shot up as much as it could or if there is still a chance for it to keep rising. Here comes a key metric, the MVRV-Z Score. Although in July XRP surpassed 3 dollars, this indicator is still far from its historical peaks. What does that mean? Well, despite recent gains, XRP is not super overvalued. That's where it gets interesting! 😉
This opens a window that, in the long term, XRP could continue to rise! If it manages to hit 2.6 dollars, it could be a perfect moment for those thinking about long-term investment and letting it sit. So, stay alert and see how the market moves. The crypto roller coaster continues its course! 🎢
Will XRP surprise us again and go up, or are we facing a new chapter of consolidation? Only time will tell, friends!$XRP