{"id":14758,"date":"2026-10-21T15:57:50","date_gmt":"2026-10-21T15:57:50","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=14758"},"modified":"2026-10-21T15:57:50","modified_gmt":"2026-10-21T15:57:50","slug":"xrp-flashes-a-potential-bottom-signal-but-15-7-billion-in-exchange-supply-threatens-recovery","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=14758","title":{"rendered":"XRP flashes a potential bottom signal, but $15.7 billion in exchange supply threatens recovery"},"content":{"rendered":"

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XRP’s 365-day MVRV ratio has fallen to about 0.92, which places holders in the metric’s window roughly 8% below their cost basis, while XRP trades near $1.33, according to Santiment.<\/p>\n

Glassnode warned Oct. 19 that more than 40% of large-cap altcoins sit near their own yearly leverage highs. XRP’s derivatives data sits between Binance shedding leverage and most of the XRP futures market sitting on other exchanges.<\/p>\n

Holders sit underwater<\/h2>\n

Santiment’s Oct. 20 readings put DOGE’s 365-day MVRV near 0.74, and Bitcoin, Ethereum, and Chainlink as a group between 0.97 and 1.04. A reading below 1 means the average holder in the window bought above the current price, which can reduce the incentive to take profits, since few holders sit on gains.<\/p>\n

The same reading can also describe a market where marginal buyers have thinned out, and the metric describes valuation while any rebound rests on buyers. XRP’s 0.92 shows less valuation stress than DOGE and more than other majors.<\/p>\n

Glassnode’s figure counts the share of large-cap altcoins near their own yearly leverage highs, and it says the share of mid-caps with elevated leverage reached a yearly high. It describes the sector’s breadth and sits apart from XRP’s leverage ratio or XRP’s share of liquidations.<\/p>\n

Glassnode’s Oct. 14 research added that leverage concentration across individual coins has been unusually elevated since Sept. 28, while its aggregate market measure stayed subdued, pointing to crowded positions in specific tokens.<\/p>\n

\"Altcoin\"Altcoin
More than half of large-cap altcoins and roughly one-third of mid-caps remain in their yearly top decile for open interest relative to market value, signaling elevated leverage despite Bitcoin\u2019s pullback.<\/figcaption><\/figure>\n

XRP’s leverage reset reaches one exchange<\/h2>\n

CryptoQuant’s Oct. 17 analysis shows Binance XRP futures open interest falling 15.8%, from $538.1 million on Oct. 4 to $453 million, as the price slid from $1.52 to $1.29.<\/p>\n

Binance’s estimated leverage ratio fell from 0.205 to 0.170, long liquidations reached $25.7 million on Oct. 7 and Oct. 8, and funding was negative on six of the last 11 days in the observation period.<\/p>\n

Dollar-denominated open interest falls with price, and the lower leverage ratio and the liquidations support an unwind of longs.<\/p>\n