Crypto analyst Ali Martinez cited a $49.70 billion XRP Ledger transaction-value reading in an Oct. 19 post, a measure that does not show how much XRP (XRP) investors bought.
XRP hovered near $1.25 at the time, according to Martinez. He interpreted the on-chain activity around that price as a possible sign of a bottom. The reading alone does not establish that XRP’s price has reversed.
Santiment calculates its daily dollar transaction-volume metric using the tokens involved and their price at the time of each transaction. It measures value moved on-chain, not the value of exchange purchases. On-chain activity can include movements connected to trading without showing how much investors bought.
Santiment says transaction volume also covers movements between wallets and payments. Tokens that pass through several addresses can contribute to the total more than once. The $49.70 billion figure therefore cannot be treated as an equivalent amount of new buying.
In a separate analysis of a three-day chart, Martinez described a possible inverse head-and-shoulders pattern. His scenario for XRP to reach $2 requires it to hold $1.25 and record a sustained close above $1.56. He identified $1 as a downside level if XRP breaks below $1.25.
Those price levels remain conditions in Martinez’s analysis. Whether XRP holds $1.25 and sustains a close above $1.56 are the next indicators he identified.
