In a market still struggling to find direction after weeks of volatility, fresh on chain data suggests that XRP may be quietly setting up for an opportunity others are missing. Analytics firm Santiment recently highlighted XRP as the only major cryptocurrency currently showing signs of being undervalued. According to its December 12 analysis, XRP’s 30 day Market Value to Realized Value (MVRV) ratio sits at 6.1%, meaning the average buyer over the past month is holding at a loss. Historically, negative MVRV readings often signal potential rebound zones, as selling pressure tends to exhaust when most short term holders are underwater.
This stands in sharp contrast to other large cap assets. Bitcoin remains relatively neutral with a modestly positive MVRV, while Ethereum appears slightly overextended. At the same time, derivatives data shows a market largely in wait and watch mode. XRP’s open interest metrics remain calm, with no signs of excessive speculation, suggesting traders are holding positions rather than aggressively betting in either direction. Price action reflects this uncertainty, as XRP continues to range between strong support near $1.90 and resistance around $2.10 after falling roughly 16% over the past month.$ETH
Despite the current quiet, the broader ecosystem continues to develop. The launch of spot XRP ETFs in the U.S. has drawn notable investor inflows, while Ripple’s RLUSD stablecoin is steadily expanding its footprint following regulatory recognition in Abu Dhabi. Taken together, XRP appears to be at a crossroads technically compressed, sentiment muted, yet supported by improving fundamentals. Whether a breakout follows will likely depend on the arrival of a fresh catalyst, but for now, on chain data suggests the asset may be priced below its recent average value, making it one to watch closely.$XRP
