On-Chain Data Shows XRP Price Bottom Might Be Further Below — Here’s Why

After a poor performance in the first two months of the year, the XRP price appears to have steadied its movement, rousing the hopes of relief among investors. However, the latest on-chain analysis suggests that the altcoin might not have hit its true local price bottom yet. Number Of Days Spent At A Profit Still Quite Low — Analyst In a recent post on the social media platform X, on-chain analyst Joao Wedson offered insights into the XRP market, saying the cryptocurrency is yet to enter the early phases of a price rebound, contrary to popular expectations. This on-chain hypothesis is based on data from the Number of Days Spent At A Profit metric. For context, this metric indicates how long current XRP holders have been in profit, relative to past price levels. As the name suggests, the indicator measures how many days have passed since XRP was last at a higher price. Related Reading: Solana Flashing Mixed Signals: $105 Breakout Or Double-Pair Collapse Ahead? According to Wedson, this