XRP flashes a potential bottom signal, but $15.7 billion in exchange supply threatens recovery
Summary
XRP’s 365-day MVRV is about 0.92, indicating holders are roughly 8% below cost basis, while its price is near $1.33. Binance XRP futures open interest and leverage have declined, suggesting a long-position unwind, but Binance represents only about 27% of tracked XRP futures exposure; funding has turned modestly positive. Aggregate exchange reserves are unusually high, though reserves are not equivalent to sell orders. The analysis says a recovery depends on spot demand and sustained price levels, with $1.25 as a key downside reference and $1.55 a conditional upside target. Rising open interest and stronger positive funding could rebuild leverage risk.
