XRP Flashes Bullish Signal With Key On-Chain Metric

XRP Resilience Shines as Majority of Circulating Supply Remains in Profit

Despite the broader crypto market's bearish trend amid ongoing macroeconomic pressures, XRP has shown impressive resilience. Data from on-chain analytics platform Glassnode reveals that up to 86.3% of XRP's circulating supply remains in profit.

This key profit metric has surged over the past month, signaling strong bullish momentum for XRP. Investor confidence in the cryptocurrency's potential remains steadfast, even as the market faces repeated corrections.

Legal Clarity Fuels Optimism

The recent conclusion of XRP's legal battle with the SEC has brought renewed attention to the cryptocurrency. As the third-largest digital asset by market cap, XRP continues to attract investor interest, with many closely tracking its on-chain activity and future outlook.

On-Chain Activity Surges

XRP has experienced a significant 21.7% increase in on-chain volume over the past day. This metric captures all blockchain-based activities, including transfers and payments, excluding centralized exchange transactions. The current on-chain volume stands at 1,084,098,384 as of May 28, reflecting growing adoption of XRP's utility.

However, the spike in volume may also suggest some holders are moving tokens to exchanges to sell. The recent 3.60% price dip could be triggering panic selling among retail investors.

At press time, XRP trades at $2.24, demonstrating its ability to weather market volatility.