XRP Rebound Imminent?
XRP's SOPR has hit a 6-month low at 0.95, with $2.50 as key support, potentially signaling a sharp rebound.
According to market commentator Xaif Crypto, SOPR is a key on-chain metric used to gauge investor behavior, indicating whether coins moved on a particular day were sold at a profit or loss.
- Values below 1 suggest that holders are selling at a loss, often signaling potential market capitulation and setting the stage for a rebound.
- XRP's SOPR has historically signaled early price reversals, such as when it last hit 0.92 on April 7, XRP jumped 35%, soaring from $1.90 to $2.58 in days.
“Now with a low near $2.38, next potential target: $3.10–$3.35.”
XRP is presently trading at $2.50, just above recent lows, with traders watching closely for a potential repeat scenario.
Author's summary: XRP's low SOPR may signal a rebound.