XRP Jumps to $2.56 Despite 240% Increase in Profit Taking

On-chain data indicates a significant increase in XRP profit realization, which has surged 240% since late September. Despite this, XRP's price has rebounded above $2.50.

Key Points:

  • XRP's Realized Profit measures the daily net profit investors realize through transactions.
  • The metric has increased from $65 million to $220 million in daily volume, a 240% rise.
  • This increase occurred as XRP's price dropped from $3.09.
  • Unlike previous instances where profit-taking coincided with price rallies, this time it occurred alongside a price decline, suggesting distribution into weakness.
  • Despite high realized profits, XRP's price has risen due to a surge in demand.
  • The potential approval of spot ETFs related to XRP could be influencing demand.

Current Price: At the moment, XRP is trading at approximately $2.56, reflecting a 13% increase over the last 24 hours.

XRP Realized Profit
XRP Price Chart