XRP, Uniswap stay underbought according to this metric Crypto
As the metric suggests, the increased volatility in the crypto market has seen trader profits plummet particularly hard during the recent price correction. The majority of crypto assets saw major price dips in January 2022 as markets continue to slide with every"buy the dip" call seeming to get invalidated.
Consequently, Uniswap's average trading returns have hit the lowest points as its price dips to the $10 range. At present prices, UNI is down 76.73% from all-time highs of $44.97. Metrics like MVRV help point out when trader pain reveals buy windows. As is always the case, every extended period of loss generally rewards the patience of traders with buy opportunities.assets such as XRP and Uniswap have reached all-time negative MVRV levels; thus, opportunities for a price upswing might be presented to bring traders some relief.
XRP is presently changing hands at $0.58 after a multi-year stretch of lackluster trading action. At present prices, XRP is down 84.7% from all-time highs of $3.84 reached in January 2018.The on-chain analytics note that XRP has been at its most negative average MVRV level since late June 2021 after its price plunged 67%. It states that this metric was last in positive territory in mid-December when XRP attained highs of $1.07 after a six-day rally.
Despite XRP price action, Ripple CEO Brad Garlinghouse recently stated that his company was in the strongest financial position to date with $1 billion in the bank.
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