XRP, Dogecoin Fall as On-Chain Data Suggests Long-Term Setup

XRP and Dogecoin have dropped significantly in price over the past 24 hours, but data suggests they may be entering a more favorable long-term setup.

According to Santiment Intelligence, XRP's 365-day Market Value to Realized Value (MVRV) ratio stands at negative 11.75%, while Dogecoin's is around negative 19.26%.

This means that the average holder of these tokens has not yet broken even on their investment, which could indicate a more favorable long-term setup as fewer holders are sitting on profits that could be realized through selling.

Meanwhile, institutional flows remain positive despite the price weakness, with weekly spot XRP ETF inflows standing at $38.06 million as of Sept. 23, and spot DOGE ETFs recording $2 million in net inflows.