XRP's recent price and volume surge presents a nuanced picture on CryptoQuant. Initially, the rally showed clear signs of retail FOMO. Active Addresses spiked significantly with price increases, then quickly fell as the market stabilized, a textbook pattern of individual investors rushing in and then disengaging. This retail impulse was further underscored as Spot Average Order Size revealed that normal investors drove the price up, reflecting smaller transaction sizes typical of the broader retail market.
However, the narrative isn't purely retail-driven. Post-pump, larger players appear to be providing a supportive layer. The Funding Rate in derivatives markets remains positive at pre-hike levels, suggesting persistent bullish sentiment from leveraged positions. Similarly, Open Interest, though down from its peak, stays significantly higher than before the surge, indicating sustained speculative capital. Crucially, Spot Average Order Size also indicates that whales keep the price up, implying that after the initial retail push, larger entities are stepping in to either accumulate or defend price levels.
In essence, XRP's recent market action is a two act play. Retail investors sparked the initial, rapid ascent. Now, however, larger players are playing a critical role in maintaining price stability and providing underlying support, moving the market beyond a simple, fleeting retail-driven pump.
Written by Banker
