The order books for XRP are flashing a signal not seen in nearly twelve months. According to data from prominent market analyst Dom (@traderview2), XRP on Coinbase is currently exhibiting its largest “bid skew” within a 50% price range in almost a year, suggesting that a massive supply-demand imbalance is tilting heavily in favor of the bulls.
The 9-to-1 imbalance
The data reveals a staggering 9:1 bid ratio for the asset on the leading U.S. exchange. In plain English, this means that for every one sell order sitting on the books within 50% of the current price, there are nine buy orders waiting to catch the asset.
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This metric is a crucial indicator of “path of least resistance.” When the bid-side (buyers) is this much deeper than the ask-side (sellers), the price requires significantly less capital to move upward than it does to move downward.
A bid skew of this magnitude typically suggests a “liquidity vacuum” to the upside. If a sudden surge of market buying hits Coinbase, there is very little “overhead supply” to stop the price from a rapid ascent.
With the current skew, a move toward the $2.25 mark is mathematically more probable based on current order book depth.
The massive “buy wall” indicated by the 9:1 ratio suggests that any sell-off would likely be aggressively absorbed long before reaching the $0.75 level.
The price may still be consolidating, but the underlying market structure is coiled for a breakout. If the broader market momentum sustains, the thin “ask” side of the book could lead to the kind of parabolic move XRP is historically known for.
XRP is currently changing hands at $1.53, according to CoinGecko data.
Source: https://u.today/xrp-sees-largest-bid-skew-in-nearly-one-year-on-leading-us-exchange
