Time to Be Vigilant, But Not Bearish

Name: FS Insight
Price range: $$$

Dec 3, 2024 • 8 Min Read

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AVAX 3.37% BNB 3.72% BONK -6.03% BTC 0.55% CORE N/A% ETH 3.17% HNT 3.00% JTO 1.27% MKR 5.47% RAY -6.65% SOL 2.47% STX N/A% XRP 2.93% BITW -3.3% BTBT +9.76% CLSK +2.73% COIN -0.73% CORZ -5.26% HIVE -1.36% HOOD -2.2% HUT -1.51% IREN +0.12% MARA +4.42% MSTR +0.16% RIOT +0.26% SMLR +6.93% WULF +0.21%

Indications of Froth

Given the violent nature of the past month’s rally, we have been vigilant for signs of a local top. It would be disingenuous to claim that some qualitative "top signals" are not flashing right now. XRP—which we noted as a possible election trade back in October—with only 1–2k daily active addresses (vs ETH's over 400k, source: Artemis), is ripping toward new highs while influencers take to TikTok to discuss their lofty price targets.

This is not to hate on XRP bulls – we will always respect the pump. We even wrote back ...

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Time to Be Vigilant, But Not Bearish

Indications of Froth

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