Glassnode Reports XRP Surges as Retail Investors Shift Interest

Glassnode's report, “Rippling Away,” reveals a shift in retail investor focus towards XRP amid bearish signals for Bitcoin. Key findings include:

Bitcoin consolidating between $76,000 and $87,000 with indicators suggesting near-term seller exhaustion.
A long-term on-chain “Death-Cross” indicates potential market weakness.
Supply in loss for Bitcoin remains elevated at 4.7 million BTC.

Retail Interest in XRP

XRP has seen significant retail speculative interest, with daily active addresses rising by 490% since the 2022 cycle low, compared to a 10% increase for Bitcoin.
XRP's Realized Cap nearly doubled from $30.1 billion to $64.2 billion during its recent rally, with $30 billion entering over the last six months.
A concentration of wealth among new investors raises caution, especially regarding potential downside volatility.
Declines in the Realized Loss/Profit Ratio for XRP indicate waning confidence and increasing paper losses among new holders.
Current market conditions suggest that demand for XRP may have peaked, warranting caution for retail-driven altcoin markets.

At press time, XRP is trading at $2.00.