Time to Be Vigilant, But Not Bearish
Dec 3, 2024
• 8
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Author
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 ...