Ripple (XRP)The short-term rise of immobilized tokens in open interest has caused concern among investors.

With the market pullback XRP and other cryptocurrencies has begun a turbulent period. While the major coin fell 10.1 percent over a seven-day period, a report published by The Crypto Basic confirmed that it outperformed the overall market, which fell 13.3 percent in the same time frame.

XRP briefly dipped as low as $0.4782, but a quick recovery move brought gains to $0.50, $0.51 and finally $0.52. Amid the rebound move, Santiment noted an observable increase in dormant XRP activity.

Thought-provoking silence in Ripple (XRP)!

In an analytical piece published yesterday, The Crypto Basic used the Token Age Consumed metric to find that there has been a massive increase in the number of legacy tokens moved by market participants, with the value rising to 130.14 billion on May 1.

Specifically, this indicator tracks the amount of XRP moved by traders on a given day and then multiplies this figure by the last time the tokens were moved. The latest data points to the highest value since April 13, indicating that market participants moved a large amount of dormant XRP tokens on May 1.

Santimentconfirmed that while the XRP network witnessed a similar surge of 131.41 billion on April 13, the market responded with a massive crash. This rise coincided with the negative period for XRP, which recorded a drop of 11.54 percent on April 11 and 12.

As a result, the rise in this metric was a result of investors moving to sell or distribute their holdings as a hedge against steeper declines. This led XRP to suffer a massive price drop of 12.44 percent on April 13, resulting in its biggest intraday loss since August 17, 2023.

However, industry experts believe that the surge in tokens moved on May 1 could lead to a different outcome. As suggested by Santiment, the recent surge in activity could be due to investors rushing to collect more XRP. This could support the ongoing relief rally that has already seen XRP reclaim $0.52.