XRP Cost Basis Heatmap Shows 2.5 Billion Tokens Stuck at $1.61
Photo: The Crypto Basic
On-chain data from Glassnode’s XRP Cost Basis Distribution Heatmap (CBDH) shows that a large amount of XRP could face selling pressure if the price recovers. Specifically, the XRP Cost Basis data reveals that approximately 2.5 billion tokens last changed hands around $1.61, which could create a potential resistance level whenever the price tries to rebound above current levels. For context, the Cost Basis Distribution Heatmap tracks the prices at which XRP last changed hands on the blockchain. When someone transfers XRP, the tokens take on a new cost basis based on the market price at that time.
Source: The Crypto Basic
