Crypto
Latent Losses May Reduce Profit-Taking Pressure for XRP and DOGE
XRP and DOGE have shown significant losses over the past year, according to data from Santiment. Their 365-day Market Value to Realized Value (MVRV) ratio is a key metric that reveals investor sentiment.
The MVRV of XRP stands at -11.75%, while DOGE's falls to -19.26%. This indicates that long-term investors are holding these assets at a loss.
The situation is different for Bitcoin, Ethereum, and Chainlink, which have slightly positive MVRVs, indicating modest profits for their holders.
A negative MVRV can reduce pressure from profit-taking, but it does not guarantee a rebound. A deeper analysis of the data shows that XRP's losses are more pronounced than DOGE's, with XRP dropping over 7% in 24 hours compared to DOGE's 6.6% decline.