On-Chain Data Suggests XRP Still Overvalued Despite Weak Price Action — More Pain For Bulls?
Summary
XRP has fallen nearly 10% over the past two weeks as crypto markets weaken, but on-chain data suggests it may still be overvalued. XRP’s Network Value to Transactions (NVT) ratio rose 20.3% above its 3-month baseline in the past week, indicating market value is growing faster than actual network usage. At the same time, spot-market activity on Binance has sharply declined: inflows and outflows are down about 98% from average levels, and active deposit addresses are down 94%. This combination points to weak fundamental support from both network utility and active investors, increasing the risk of a further price decline as XRP searches for fair value. XRP is currently trading around $1.32.
