Santiment Data Shows XRP and DOGE at Deep Discounts
Santiment's 365-day MVRV metric shows XRP at -11.75% and DOGE at -19.26%, indicating that average holders are at a loss. The firm suggests such levels have historically offered good long-term entry points. Both assets have pulled back over 5% in the last 24 hours.
The 365-day MVRV metric compares an asset's current market value against the average price at which coins last moved, revealing whether typical holders are profitable. While Bitcoin, Ethereum, and Chainlink hover near breakeven, XRP and DOGE sit notably deeper in negative territory. Santiment's historical analysis suggests such depressed readings have preceded favorable long-term buying windows, though past patterns do not guarantee future results.
XRP's open interest has climbed past $600 million, approaching its January record of $691 million, indicating fresh leveraged positioning from traders. Technical levels show XRP finding support near $1.40, with a stronger floor at $1.25, while resistance sits at $1.55. DOGE continues facing rejection around the $0.10 mark, currently defending $0.093 after its recent pullback.
These discount signals could attract both retail and institutional buyers seeking entry points, potentially stabilizing prices for XRP and DOGE holders who have endured losses. However, the metric's historical reliability does not guarantee future performance, and rising open interest may amplify volatility if leveraged positions unwind. Whale activity at these levels could shift market dynamics, though smaller investors remain exposed to further downside if key support levels fail to hold.