Is XRP the hottest horse in the crypto market this time?

Recently, the blockchain payment project Ripple and its native token XRP have once again become the focus of attention, mainly due to the volatility of cryptocurrency prices and Ripple's partial victory in the legal battle with the U.S. Securities and Exchange Commission (SEC). The combination of the two has triggered optimistic expectations for the rebound of XRP prices in the market, but on-chain data shows that investors should remain cautious.

When XRP rose to $0.65 recently, the Sharpe ratio was 4.93, indicating that investing in XRP during this period was attractive. However, as the price fell back to $0.58, the Sharpe ratio has fallen to 3.70, which means that the investment risk has increased and the expected return of continuing to hold XRP has decreased.

In addition, data shows that the average coin age of XRP has increased, indicating that some long-held tokens are being re-moved. This phenomenon usually means that investors may be ready to sell tokens, which may put further pressure on XRP prices.

Juliet believes that XRP encountered supply resistance in the $0.62 to $0.63 area and failed to continue to rise, causing the price to fall back to around $0.56. In addition, the moving average convergence divergence indicator shows that the current market momentum of XRP is negative, which indicates that sellers are dominant and there is a risk of further price decline. If this trend continues, XRP may drop to the support level of $0.55 or even lower.

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