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Keel
Ledger
64,490,138
Methodology
1.0.8-draft
Age
8s

What depth stands behind this price?

XRP against USDC · GBXRPL…PRDTD5

How much can this asset safely back?

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.
  1. Low
  2. Medium
  3. High
  4. Critical — this asset

Criticalpartial confidence

A band marked partial is a floor. At least one high-severity check could not be evaluated, so the real band can only be worse than the one shown, never better.

346.61 USDC (shortened; full value 346.6142289099512104647879025 USDC)

Limited by manipulation cost

Liquidation term
608.44 USDC (shortened; full value 608.44688811775612417071337375405516824520441350179 USDC)

Sell-side depth at the liquidation delta, times the haircut.

Manipulation termbinds
346.61 USDC (shortened; full value 346.6142289099512104647879025 USDC)

Order-book-only manipulation cost at the critical delta, times the safety margin.

These bands come from thresholds that were chosen, not calibrated

The thresholds were chosen based on the magnitude of the Blend incident of February 2026 and on conservative judgement, not calibrated against a set of incidents. Every flag is reported separately so that consumers can apply their own thresholds.

Every threshold, as the engine serves it

Where this number comes from
Source
GET /asset/{assetId}/depth → maxSafeCollateral, maxSafeCollateralLiquidation, maxSafeCollateralManipulation
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

What this computation could not do

  • maxReachablePrice and costToMaxReachablePrice are null because an active pool is present: under a constant product curve the price tends to infinity as the base reserve tends to zero, so every target is reachable and a highest price has no meaning

Served by the engine with this response and shown as written.

Where does the price come from?

Two venues can disagree. Both readings are shown, not only the one that won.
Mid price
1.32286578 USDC (shortened; full value 1.3228657888386393 USDC)

Source: order book mid

Spread
0.1999 % (shortened; full value 0.19999999999999405835416841 %)

Undefined unless the price came from a two-sided book

Pool spot price
1.32045753 USDC (shortened; full value 1.3204575339747398 USDC)

Reported whenever an active pool exists, whichever source won

Divergence between the two
0.1823 % (shortened; full value 0.18238033423538856776203813 %)

Null means there is no pool to diverge from, not that the sources agree

Where this number comes from
Source
GET /asset/{assetId}/depth → midPrice, priceSource, spreadPct, poolSpotPrice, priceDivergencePct
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

What volume can it absorb before the price moves?

Three rungs at 2, 5 and 10 per cent, in each direction. The buy side matters for oracle manipulation and the sell side for liquidation.
  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
1,300.40 USDC (shortened; full value 1300.4024870676676981078399833836 USDC)
Sell side
1,014.05 USDC (shortened; full value 1014.05392999364018547661635559833266583107212245022 USDC)

5% from mid

Buy side
1,322.65 USDC (shortened; full value 1322.6537402264557117130722261303 USDC)
Sell side
1,021.88 USDC (shortened; full value 1021.88325077079769196889601739470439537938036529189 USDC)

10% from mid

Buy side
1,347.71 USDC (shortened; full value 1347.7119878076052031387627034187 USDC)
Sell side
1,216.89 USDC (shortened; full value 1216.89377623551224834142674750811033649040882700358 USDC)

Bars share one scale. The venue split decomposes the buy side; the sell side is drawn as an outline because its composition is not reported.

Where this number comes from
Source
GET /asset/{assetId}/depth → depth[]
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

What would it cost to move the price?

Read cost together with reachability: a figure on an unreachable rung says how far the book goes, not what the move costs.
Cost to move the price by each delta, through all venues and through the order book alone, with whether the target is reachable at all.
MoveTarget priceCost, all venuesCost, order book only
0.5%1.984298 USDC (shortened; full value 1.98429868325795895 USDC)1,502.85 USDC (shortened; full value 1502.8531758041874636389535652777 USDC)1,386.45 USDC (shortened; full value 1386.45691563980484185915161 USDC)
1%2.645731 USDC (shortened; full value 2.6457315776772786 USDC)2,932.48 USDC (shortened; full value 2932.4875938905184877337991055595 USDC)2,718.36 USDC (shortened; full value 2718.36074727780484185915161 USDC)
10%14.551523 USDC (shortened; full value 14.5515236772250323 USDC)238,111.04 USDC (shortened; full value 238111.0461910319772764501656915271 USDC)236,915.62 USDC (shortened; full value 236915.62916917469934185915161 USDC)
100%133.609444 USDC (shortened; full value 133.6094446727025693 USDC)567,005.41 USDC (shortened; full value 567005.4132529811495461951981854599 USDC)562,336.89 USDC (shortened; full value 562336.89178845553100185915161 USDC)

Reachability on the all-venues ladder is unconditionally true whenever an active pool exists, because a constant product curve has no upper price bound. The order-book-only column is the one that answers whether a target is attainable, and it is the one Keel itself uses.

How far the book actually goes

Furthest price the book reaches
not computed

Null by structure, not by failure: an active pool means every target is reachable and a highest price has no meaning

Cost to walk it that far
not computed

Null for the same reason as the price above

Against genuine volume

Not reported for this asset. Without it there is no comparison between the cost of an attack and the genuine trading it would have to hide inside.

Where this number comes from
Source
GET /asset/{assetId}/depth → manipulationCostCombined[], manipulationCostOrderbookOnly[], oracleResistance
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

Which checks fired, and which could not run?

An unevaluated check is not a check that came back clear. The two never share a treatment.

Triggered(2)

  • MANIPULATION_CHEAP
  • THIN_DEPTH_5PCT

Could not be evaluated(6)

  • MANIPULATION_RATIO_LOW
  • NO_GENUINE_TRADE_30D
  • HOLDER_CONCENTRATION_EXTREME
  • NO_GENUINE_TRADE_7D
  • HOLDER_CONCENTRATION_HIGH
  • WASH_TRADE_SUSPECTED
Where this number comes from
Source
GET /asset/{assetId}/depth → flags[], unevaluatedFlags[], bandConfidence
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

Who holds it, and is it genuinely traded?

Concentration and wash trading bound how much of the depth above is real.
Largest holder
not computed
Top ten holders
not computed
Concentration index
not computed

Herfindahl–Hirschman, over the holder distribution

Volume excluded as not genuine
not computed

Of 30 day volume. A high share indicates suspected wash trading

Volume to supply, 30 day
not computed
Last genuine trade
not computed

No genuine trade was found in the window

Where this number comes from
Source
GET /asset/{assetId}/depth → holderTop1Pct, holderTop10Pct, holderHhi, volumeToSupply, lastGenuineTrade, tradesExcludedPct
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

How has this moved over time?

A single reading cannot separate a thin asset from one that just got thin. This is a stored series, not the historical replay that health reports as unavailable — those are different endpoints.

No readings were stored in this range from this source

The engine accepted the request and returned nothing for Trades implied. The series is as old as the deployment, and the reconstruction sources are not populated in production, so a window can reach back further than anything that was recorded. It is not empty because the figures were zero.

Where this number comes from
Source
GET /asset/{assetId}/history → points[], gaps[], dataSource
What it is
Awaiting methodology copy.
What it does not account for
Awaiting methodology copy.

What was this computed from?

Ledger
64,490,138

Closed at 2026-09-18T13:01:08Z

Computed at
2026-09-18T13:01:16.632808Z
Data source
horizon
Methodology
1.0.8-draft

The version that produced these figures, not the one this page was built against