Santiment reported that XRP’s 365-day MVRV ratio was about 0.92 in its Oct. 20 readings, putting holders in that window roughly 8% below their cost basis while XRP traded near $1.33. The reading describes valuation, not a recovery forecast; any rebound depends on buyers.
CryptoQuant reported that Binance XRP futures open interest fell 15.8%, from $538.1 million on Oct. 4 to $453 million, alongside a lower estimated leverage ratio and long liquidations. But Glassnode’s Oct. 19 data put about 73% of tracked XRP futures exposure on other exchanges, whose Oct. 4 levels were not supplied, so the Binance decline does not establish a market-wide reset. CryptoQuant also counted 11.81 billion XRP in exchange reserves on Oct. 17, though those balances are not necessarily sell orders.
