XRP Price May Not Have Hit Local Bottom Yet, On-Chain Analysis Suggests

On-chain analysis has revealed that the XRP price may not have yet reached its local bottom. According to Joao Wedson's insights on social media platform X, the Number of Days Spent At A Profit metric suggests that the cryptocurrency is still in a phase where it could see more downside movement in the near to mid-term.

The analyst pointed out that this historical context indicates that the XRP price could be further from its true local bottom. As of now, the XRP price stands at approximately $1.44, reflecting a 0.4% loss in the past day.