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Bitcoin came under significant pressure over the weekend, with overall sentiment declining, causing multiple digital currencies to return to undervalued territory.
Recent data suggests that Ripple (XRP) and Cardano (ADA) have depreciated more than Bitcoin itself.
According to the “Santiment” platform, the 30-day Market Capitalization and Realized Value (MVRV) index is used to measure the risk when opening or adding to a position.
Negative values mean that the average trader is currently losing money, which may indicate a less risky buying opportunity, and the larger the negative value, the more attractive the entry from a risk perspective.
According to the latest data, XRP has a rating of -5.7%, which ranks it as a lower-rated asset than Bitcoin, which has a rating of -3.7%.
Other currencies also showed more negative readings, most notably LINK at -9.5%, followed by ADA at -7.9% and Ethereum at -7.6%.
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