XRP and Dogecoin are flashing on-chain signals that Santiment associates with more favorable buying conditions, as losses among investors active over the past year set both tokens apart from several major cryptocurrencies, Yahoo Finance reported.
The distinction matters because the analytics firm views deep unrealized losses as a sign that selling pressure from profit-taking may be limited, even as the data stops short of confirming a market bottom for either token.
What the XRP and DOGE MVRV readings show
Dogecoin's 365-day market value to realized value ratio, or MVRV, stands near 0.74, while XRP's sits around 0.92, according to Santiment data cited by Yahoo Finance. Both readings place the measured holder cohorts underwater on average, which could reduce the incentive to sell for profits.
Expressed as returns relative to the measured cost basis, Dogecoin's ratio implies an average unrealized loss of approximately 26%, while XRP's reading translates into a loss of roughly 8%, Yahoo Finance reported. That makes DOGE the more depressed asset on this measure, and its holders face a substantially larger recovery hurdle before reaching breakeven.
By contrast, the 365-day MVRV readings for bitcoin, ether and Chainlink cluster between 0.97 and 1.04, corresponding to positions ranging from approximately 3% underwater to 4% in profit, according to the report.
Why Santiment sees opportunity in the losses
Santiment interprets the contrast as evidence that XRP and DOGE offer more favorable positioning than assets whose holders have accumulated large unrealized gains, Yahoo Finance reported. The reasoning centers on selling incentives: investors sitting on substantial profits may cash out, adding supply to the market.
Underwater holders have fewer gains to realize, although they can still sell to limit losses, according to the report. Santiment sees these underwater positions as potentially favorable opportunity signals while bitcoin, ether and Chainlink remain near breakeven.
Limits of the 365-day metric
Santiment's 365-day metric includes coins that moved at least once during the previous year, according to Yahoo Finance. It therefore measures a time-bound on-chain cohort, rather than the documented purchase returns of every investor who bought during that period.
Low MVRV does not confirm a bottom, and stronger demand and price stabilization would strengthen the rebound case, the report said. The readings do not establish that either token has reached a floor, a distinction an earlier Santiment update helps illustrate.
A second month of investor pain
The latest readings follow a similar warning about investor pain almost a month earlier, Yahoo Finance reported. On Sept. 23, Santiment put XRP's 365-day MVRV at approximately negative 11.75% and Dogecoin's at negative 19.26%.
Bitcoin, Ethereum and Chainlink were slightly profitable on the same measure at that time, according to the report. The persistence of negative readings across both updates shows holders of the two tokens have remained underwater for weeks, even as the depth of those losses has shifted.
Conclusion
Santiment's 365-day MVRV data shows Dogecoin holders sitting on average unrealized losses of about 26% and XRP holders down roughly 8%, while bitcoin, ether and Chainlink hover near breakeven. The analytics firm views that gap as a more favorable setup for the two lagging tokens, since underwater holders have less profit to cash out. The data does not confirm a bottom for either asset. According to the report, stronger demand and price stabilization would be needed to strengthen the case for a rebound.
Frequently Asked Questions
What is the 365-day MVRV for XRP and Dogecoin right now?
Dogecoin's 365-day MVRV stands near 0.74 and XRP's sits around 0.92, according to Santiment data cited by Yahoo Finance. Both readings place the measured holder cohorts underwater on average, implying unrealized losses of roughly 26% for DOGE and about 8% for XRP.
Why does Santiment view XRP and DOGE losses as a buying signal?
Santiment interprets the deep unrealized losses as evidence that XRP and DOGE offer more favorable positioning than assets whose holders hold large gains, Yahoo Finance reported. Investors sitting on profits may cash out and add supply, while underwater holders have fewer gains to realize.
Does a low MVRV mean XRP and Dogecoin have bottomed?
No. Low MVRV does not confirm a bottom, according to the Yahoo Finance report, and the readings do not establish that either token has reached a floor. Stronger demand and price stabilization would strengthen the case for a rebound.
How do bitcoin, ether and Chainlink compare on the same measure?
The 365-day MVRV readings for bitcoin, ether and Chainlink cluster between 0.97 and 1.04, corresponding to positions ranging from approximately 3% underwater to 4% in profit, according to the report. That leaves them near breakeven compared with the deeper losses for XRP and DOGE.
What did Santiment's earlier September MVRV update show?
On Sept. 23, Santiment reported XRP's 365-day MVRV at approximately negative 11.75% and Dogecoin's at negative 19.26%, according to Yahoo Finance. Bitcoin, Ethereum and Chainlink were slightly profitable on the same measure at that time.
Sources
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I am Toby Rothschild, Co-Founder of Spearmint and author at Coinography, and a strategist focused on advancing Web3 innovation, digital ecosystems, and the future of decentralized technology. I combine product thinking, creative leadership, and deep interest in emerging trends to help shape how individuals and organizations interact with the next generation of digital systems.
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