XRP’s price has taken a hit, dropping over 6% in the last week. However, despite this decline, market sentiment around the altcoin has improved, with weighted sentiment registering an uptick.
The token’s social volume has declined, indicating a drop in popularity. Yet, a popular X handle, EGRAG CRYPTO, believes that XRP could potentially outperform Bitcoin and Ethereum in the coming days.
According to EGRAG CRYPTO, XRP is currently at 3.93% dominance above its Fibonacci level of 0.382, with the potential for double-digit dominance if it closes above 5.57%. The token’s MVRV ratio has also shown a slight uptick, indicating growing market cap.
However, not all data points are favorable. XRP’s daily active addresses have dropped, signaling declining network activity, and technical indicators suggest selling pressure is rising. The MACD flashed a bearish upper hand in the market, and the Chaikin Money Flow (CMF) also registered a downtick.
Source: https://ambcrypto.com/assessing-the-odds-of-xrps-price-outshining-bitcoin-and-ethereum