Time to Be Vigilant, But Not Bearish

Name: FS Insight
Price range: $$$

Dec 3, 2024 • 8 Min Read

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AVAX 0.97% BNB 3.72% BONK -9.32% BTC -1.78% CORE N/A% ETH 1.50% HNT 5.14% JTO -1.60% MKR 5.47% RAY -6.65% SOL 0.04% STX N/A% XRP -2.71% BITW -3.3% BTBT -4.74% CLSK -1.94% COIN +1.89% CORZ -1.34% HIVE +1.35% HOOD +4.4% HUT -2.44% IREN -0.66% MARA -2.65% MSTR -6.43% RIOT +3% SMLR -5.41% WULF -4.85%

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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