Although XRP recorded noticeable losses after the Crypto Broad market returned to a declining area in response to continuous macroeconomic pressure, the greater part of the total number of XRP in the circulating offer is still in profit Data From the platform of analyzes on the series, Glassnode.
XRP is still up amid market prospects
The data shows that up to 86.3 % of XRP at the present time in the offer has been in profit despite its failure to maintain the last bull race, which witnessed a rise in the price of $ 2.61 on May 14.
This means that the current price of XRP is higher than the price that investors initially bought their assets.
This decisive profit scale, which increased its level last month, indicates a bullish momentum for XRP. As such, the investor’s confidence in the XRP capabilities appears to have been fixed despite the frequent encryption market corrections.
In the aftermath of the last conclusion of the XRP legal battle with the Securities and Stock Exchange Committee (SEC), it became the third largest encrypted currency according to the market value in the ecosystem for encryption, where investors carefully monitored their movement on the series and remains optimistic about its future capabilities.
Amid this bullish momentum, XRP also noticed a significant increase in its size on the chain, indicating a noticeable increase of 21.7 % during the last day.
While this scale tracks all XRP activities on the series including transfers, payments and transactions made directly on Blockchain, they do not follow the XRP transactions conducted on central exchanges.
The increase in the size of the XRP on the chain highlights a significant increase in adopting cases of use of the distinctive symbol. According to data, the XRP size on the series is 1,084,098,384 as of May 28.
On the other hand, the high increase in the size of XRP may indicate the chain that holders transfer symbols to stock exchanges for sale, as the sudden decrease in the price of XRP during the last day may have sparked investors, especially retailers, to the sale of panic.
As of the time of writing, XRP is trading at $ 2.24, which is a 3.60 % decrease from the last day, according to the last day, according to the last day. Data From Coinmarketcap.
