Is XRP About To Rally? Crypto Analytics Firm Santiment Says One Metric Is Flashing a Historically Bullish Signal
Crypto analytics platform Santiment says that a bullish XRP signal, which preceded a huge rally in March, is once again flashing.
The market intelligence firm says that daily XRP address activity is spiking to a level that historically preceded a breakout.
According to Santiment, XRP saw its largest address activity spike in its history on March 18th and the token went on a 45% price surge within the following 10 days.
“XRP Network has now had its second and third largest address activity spikes of all time these past two days. A mild +4% decoupling has emerged between XRP and the altcoin pack, and if history repeats itself from the March 18th activity spike, it could be more.”
XRP is trading for $0.51 at time of writing, down 0.7% during the last 24 hours.
Next, Santiment notes that Bitcoin (BTC) sharks and whales have accumulated a combined 93,000 BTC since the market dipped from its local top of about $30,000 in mid-April.
“Addresses holding between 10 to 10,000 Bitcoin appear to be staying cautious as the price has fluctuated between $26,000 to $30,000 over the past month. Regardless, they have accumulated a combined 93,000 BTC as prices fell from the local top in mid-April.”
Bitcoin is worth $27,102 at time of writing, down 2.5% during the past 24 hours.
Santiment also weighs in on the altcoin market, calling the recent surge of synthetic asset platform Linear Finance (LINA) one indicator of a possible near-term alt upswing.
“Altcoins continue to show encouraging signs, as Linear has pumped +62% the past three days. During this surge, a whale exchange address has dumped a significant portion of its holdings. In about 48 hours, 910 million LINA worth $15.6 million has been transferred.”
Linear is worth $0.0225 at time of writing, down 6.7% during the last 24 hours.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Is XRP About To Rally? Crypto Analytics Firm Santiment Says One Metric Is Flashing a Historically Bullish Signal appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
