Why is $XRP Selling Off Despite Bullish On-Chain Data?
Despite strong fundamentals, $XRP has slipped to a 9-month low near $1.60. The on-chain signals look incredibly bullish: Real World Asset (RWA) TVL is up 11% in the last 30 days to a record $235M, and Ripple continues to expand its global licensing.
So, what's the issue? The market structure is being completely dominated by Bitcoin. $XRP’s correlation with $BTC sits at a staggering 0.998. This means Bitcoin's volatility is overpowering all positive catalysts for XRP. Until $BTC stabilizes, institutional inflows for alts may remain suppressed, keeping downside pressure on the price.
Verdict: Bearish in the short term, until the BTC correlation breaks.
The ongoing public dispute between Binance and OKX is creating significant market instability, directly contributing to the erosion of investor trust. We've seen a sharp decline in $BTC to the $78,000 level as a result.
This isn't just exchange drama; it's a direct threat to the market structure. When major players engage in this behavior, it spooks large capital and damages liquidity across the board. The market is reacting to a perceived lack of responsible leadership, which is critical for institutional confidence.
The sentiment is deeply BEARISH until this is resolved. Watch for further downside if the conflict escalates.
ON-CHAIN SIGNAL: $XRP 'Millionaire' Wallets Signal Major Accumulation.
While the price of $XRP has been dipping, a critical on-chain metric is flashing a bullish divergence. The number of wallets holding 1 million or more $XRP tokens has just surged to a four-month high.
This is a classic sign of whale accumulation. Smart money is using the current price weakness as an opportunity to increase their positions, absorbing supply from the market. This type of behavior often precedes a shift in market structure, as large players build a strong support floor. When institutional-sized wallets accumulate during a dip, it can lead to a supply shock later on.
My analysis of this signal is **Bullish**. Whales are not selling; they are buying. Pay close attention.
Jacob & Co, a name synonymous with high-end luxury, just unveiled a limited edition watch with a built-in $BTC miner. While the 1,000 TH/s hashrate won't move the network, the signal is what matters.
This move represents a new wave of adoption. It integrates Bitcoin not just as a financial asset, but as a cultural status symbol. When a brand like this embeds mining into a physical store of value, it strengthens the narrative of $BTC as "digital gold" for high-net-worth individuals. This is a powerful step in cementing Bitcoin's place in the world of luxury and long-term wealth.