Currently, data from Realized Cap Impulse shows that new capital is flowing out of XRP. As for the MVRV Z-Score, which is sitting right on a key level, the metric hints at either a bear market continuation or the last on-chain support. Meanwhile, the NUPL is also at its transition line, and a further drop implies that most XRP activity will shift into unrealized losses.
Short-Term Holders Are The Major Sellers Data shows that wallet addresses aged between 1 week and 1 month have experienced a drop from 5.27% to 3.6% in the past few days. Meanwhile, wallet addresses that fall under the 1-month to 3-month category are down from 11.53% to 9.29%. When newer market players are offloading their positions in volatile conditions, it is often caused by weak conviction in the altcoin and higher risk tolerance.
While these short-term holders are constantly selling their coins, Steph is Crypto highlighted that long-term holders are doing the opposite. These investors are not selling and are holding on to their coins. For now, only weak hands are the ones that are selling in the market.
