Santiment

Santiment analysis identifies XRP as the sole undervalued top-10 cryptocurrency, with an MVRV ratio of -6.1%, while Bitcoin and Ethereum remain neutral or overvalued. Despite quiet market conditions and stable derivatives data, Ripple’s developments, like its RLUSD stablecoin growth, could act as catalysts for XRP’s price movement.

Crypto trading volumes have collapsed by 66%, a quiet period that experts warn often precedes major market movements. Meanwhile, a significant amount of Bitcoin is being withdrawn from exchanges, suggesting long-term accumulation and a potential supply squeeze.

XRP’s price decline has pushed investor sentiment to ’extreme fear,’ a level that has historically been followed by significant price surges, despite recent whale selling and a lackluster reaction to new ETF inflows.

Bitcoin is down over 20% in November, potentially ending its three-year winning streak for the month. However, analysts point to historical patterns and on-chain data suggesting a potential rebound, presenting both risks and opportunities for traders.