en.bitcoinsistemi.com
Bitcoin and altcoins experienced a sharp and sudden drop last week. On this decline, BTC fell to $ 25,000, while Ethereum fell to $ 1550.
Other than ETH, many altcoins experienced sharp drops, some of them $XRP, Litecoin ($LTC).
However, Santiment said that after the sharp correction last week, some altcoins are showing signs of recovery.
Stating that these altcoins are $XRP, $LTC and Stellar ($XLM), Santiment said that the downtrend is likely to continue this week.
“After the crypto market crashed last week, several altcoins are showing signs of recovery, especially $XRP, $LTC, and $XLM.
But don't be surprised if the downtrend continues this week as market cap to realized metrics continue to show that traders are on the upswing.”
📈 After #crypto market caps dropped sector-wide last week, several #altcoins are scratching their way back, particularly $LTC, $XRP, & $XLM. With market value to realized value metrics continuing to show traders are down big, don't be surprised if the trend continues this week. pic.twitter.com/cX8q9Tcu7B
— Santiment (@santimentfeed) August 21, 2023
Stating that there is also other data supporting the recovery in $XRP, Santiment said that $XRP whales turned the declines into opportunities and took action again and accumulated.
“$XRP is starting to see some slight signs of recovery and today's 4% price increase seems to be supported by some of $XRP's biggest whales as well.
There are 221 addresses holding between 10M-1B. With their recent purchases, they now have a combined 16.13 billion coins worth $8.71 billion.”
🐳 #XRPNetwork is starting to see some mild recovery signs, and today's +4% price rise appears to be supported some of the asset's largest whales. There are 221 addresses holding between 10M-1B $XRP. They now hold a combined 16.13B tokens worth $8.71B. https://t.co/vyy0WwRtFq pic.twitter.com/4wMLQxMlIA
— Santiment (@santimentfeed) August 20, 2023
After Ripple's victory against the SEC, $XRP, which went up to $ 0.92, returned these gains and fell to $ 0.42.
$XRP, which recovered afterwards, continues to be traded at $ 0.5226 at the time of writing.
*Not investment advice.