BroadChain learned that at 21:30 on April 24, according to NewsBTC, XRP's current spot price is $1.4343, below its on-chain average cost price of $1.4862, meaning average holders are in a state of unrealized loss. Alphractal data shows the MVRV ratio has dropped to 0.9613 (below 1), with NUPL at -0.0402, placing the market in the "fear" zone, though it has not yet entered a capitulation selling phase.
The number of active on-chain addresses reached 48,946, up 17.7% in a single day and 40.8% over the week; daily transaction volume hit 2.81 million, with adjusted transaction volume reaching $29.58 billion. Exchange reserves stand at only 3.68 billion XRP (approximately $5.27 billion), accounting for 6% of the circulating supply, a structurally low level indicating limited sell-side liquidity.
In derivatives, XRP's open interest is $1.49 billion, representing 1.69% of its market cap; the long/short ratio is 2.34, but 24-hour liquidations are only $870,000, suggesting manageable leverage risk. The whale-to-retail delta is -0.81, indicating retail participation exceeds that of whales, who are not actively accumulating. In terms of capital inflows, the 365-day moving average Delta growth rate is -111.7, confirming weak new capital inflows over the past year.
Overall, XRP's on-chain activity is recovering, exchange supply is tight, and leverage levels are moderate, but the price is below cost, market sentiment is fearful, and capital inflows are insufficient. The market is currently in a phase of range-bound consolidation and bottom accumulation, with no clear trend reversal signal yet formed.