The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

XRP Showing ‘Strong Bullish Cases’ As Whales Rapidly Accumulate: Crypto Insights Firm

by Daily Hodl Staff
January 3, 2023
in Altcoins, Ripple and XRP

Crypto analytics firm Santiment says XRP is signaling bullishness as whales rapidly accumulate the token.

According to Santiment, XRP is setting the stage for a possible price surge to start off 2023, potentially triggered by a short squeeze.

A short squeeze happens when an unusual amount of traders are trying to short-sell an asset. The squeeze begins when the price jumps, causing many traders to buy back their positions and therefore pushing up the price even further in a volatile fashion.

Santiment shows the lopsided funding rate for XRP on Binance, the largest crypto exchange in the world by trading volume.

“The XRP Network has some intriguing network divergences pointing to strong bullish cases. Our community post discusses whale addresses accumulating rapidly, traders continuing to short, and a significant long/short on the verge of being crossed.”

Image
Source: Santiment/Twitter

Turning to the top two crypto assets, Santiment says Bitcoin (BTC) and Ethereum (ETH) are showing weakness based on their Network Value to Transactions Ratio (NVT). The metric attempts to gauge the direction of the market by looking at token circulation versus the asset’s market cap. A low circulation relative to market cap implies the token is overvalued and positioned for a correction.

“According to Santiment’s NVT price prediction model, Bitcoin and Ethereum still require some increased network utility to justify current market caps. The circulation rate of both networks need to pick up in 2023, and this week will be telling as non-holiday days begin.”

Image
Source: Santiment/Twitter

At time of writing, Bitcoin is trading hands at $1,645 and Ethereum at $1,209. XRP is currently going for $0.342.

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

Check Latest News Headlines


 
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.

Featured Image: Shutterstock/tostphoto/INelson

Submit a Press Release

Industry Announcements

  • DPAT Raises Private Funding To Enhance Web 3.0 Ecosystem
    June 2, 2023
  • Pink Moon Studios Reveals ‘KMON: World of Kogaea’ Pioneering a New Era in Web 3.0 Open-World Gaming
    June 2, 2023
  • OKX Proposes Industry-First BRC-30 Token Standard To Enable Bitcoin and BRC-20 Token Staking
    June 2, 2023
  • Devour and AlterVerse Partner To Bring the World’s First Web 3.0 Food Ordering Marketplace to the Metaverse
    June 1, 2023
  • Bumper’s Breakthrough DeFi Protocol Set To Reshape Options Pricing
    May 31, 2023
  • MetaZone Secures Funding To Expand the World’s First Tokenized App Platform for the Metaverse
    May 30, 2023
  • The QWAN Launch – A Token for the Global Gaming Industry
    May 30, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,096.26
$27,096.26
0.14%
Ethereum
$1,896.22
$1,896.22
0.2%
Cardano
$0.379729
$0.379729
0.64%
XRP
$0.523349
$0.523349
0.46%
Dogecoin
$0.07281
$0.07281
0.41%

Spotlight

  • Bitcoin Could Erupt 150% This Year and Shatter All-Time High, According to Analyst – Here’s Why
    May 27, 2023
  • Under-the-Radar Altcoin Escapes Crypto Doldrums and Surges by 44% This Week Amid Successful AI Testing
    May 27, 2023
  • One Catalyst Could Trigger Altcoins To Plunge by Up to 50%, Predicts Popular Crypto Analyst
    May 27, 2023
  • Ongoing Crypto Market Downturn Forces 2,710,000 Bitcoin (BTC) Into Loss Territory: Glassnode
    May 27, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl