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This metric shows interesting data for XRP, 1Inch and Aave

 


On-chain and market data from Santiment indicates MVRV divergence in XRP, AAVE, and other altcoins, suggesting these altcoins have entered what is known as an opportunity zone.



Metric shows interesting data

The metric suggests that with increased volatility in the crypto market, retailers are mostly following the broader trends in the market, leaving some cryptocurrencies extremely overbought and others underbought.


As traders continue to have #FOMO when #crypto rises and then have #FUD when assets fall, we see sharply declining profit levels for the majority of assets. Our model shows that $XRP, #1INCH, $AAVE, $CEL, $GRT and $UNI are among those causing great pain (and opportunity) for traders.”


As data shows, XRP currently remains one of the most underbought cryptocurrencies in the crypto market due to the 1-day MVRV divergence. According to the data and the reallocation of funds in the market, XRP is showing the lowest volume of inflows.


1Inch token also remains among the underbought leaders with a major 1-day divergence on MVRV.


While the majority of cryptocurrencies remain underbought, there are some positions in the market like Fantom that could be considered slightly overbought due to the 6 month MVRV divergence or simply over the long term.


Santiment's chart calculates how far each asset is from its normal state. Each MVRV timeframe is blended together to measure percentage distance, which can help determine if an asset is overbought or undersold.


Market Valued to Realized Value (MVRV) is a ratio that cryptocurrency investors can use to see whether a cryptocurrency's price is fair or not. The metric is also used to determine market highs and lows.



According to historical data, the indicator could be considered successful as it accurately predicted almost all the highs and lows that have ever appeared in the market.

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