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Keel
Ledger
64,492,659
Methodology
1.0.8-draft
Age
3s

XRP against USDC — what depth stands behind this price?

How has this moved over time?

WindowLast 24 hoursLast 7 daysLast 30 days
ResolutionHourlyDaily
SourceHorizonHubbleOffers impliedTrades implied

Price

Mid price
1.38449684 USDC (shortened; full value 1.3844968497381267 USDC)

Higher than at the start of the window

Buy-side depth

What an order can absorb before the price moves against a buyer. The rungs are nested, so one scale covers all three.

2% from mid
1,349.30 USDC (shortened; full value 1349.3036231970837081300425926679 USDC)
5% from mid
1,369.70 USDC (shortened; full value 1369.7046668906411731421265870012 USDC)
10% from mid
1,392.92 USDC (shortened; full value 1392.9299925023561725274378663696 USDC)

Higher than at the start of the window

Cost to move the price by half

One manipulation rung, at the delta the engine treats as critical. A reading it could not produce breaks the line rather than sitting at zero.

Manipulation cost, 0.5%
2,532.35 USDC (shortened; full value 2532.35722220105747485394609 USDC)

Lower than at the start of the window

Collateral ceiling

Max safe collateral
538.27 USDC (shortened; full value 538.2742700443595231320018543675122782856081269357925 USDC)

Higher than at the start of the window

2026-09-11T23:48:33Z — 2026-09-18T16:31:13Z

Which checks were firing

Whether a finding has been there all along or started recently. Only checks that fired at least once appear.

MANIPULATION_CHEAPthroughout
THIN_DEPTH_5PCTthroughout
ZERO_DEPTH_2PCT1 of 8

8 readings from horizon, with no gaps reported. One source per chart.

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.

Risk band

Critical

partial 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.

538.27 USDC (shortened; full value 538.2742700443595231320018543675122782856081269357925 USDC)

Limited by liquidation depth

Liquidation termbinds
538.27 USDC (shortened; full value 538.2742700443595231320018543675122782856081269357925 USDC)

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

Manipulation term
633.08 USDC (shortened; full value 633.0893055502643687134865225 USDC)

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

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
1,349.30 USDC (shortened; full value 1349.3036231970837081300425926679 USDC)
Sell side
1,039.90 USDC (shortened; full value 1039.904058791949679438963049538133127348046380313915 USDC)

5% from mid

Buy side
1,369.70 USDC (shortened; full value 1369.7046668906411731421265870012 USDC)
Sell side
1,047.91 USDC (shortened; full value 1047.914100878564738229081196458573357056683917231 USDC)

10% from mid

Buy side
1,392.92 USDC (shortened; full value 1392.9299925023561725274378663696 USDC)
Sell side
1,076.54 USDC (shortened; full value 1076.548540088719046264003708735024556571216253871585 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.

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%2.076745 USDC (shortened; full value 2.07674527460719005 USDC)2,651.87 USDC (shortened; full value 2651.8764575526394009802351677757 USDC)2,532.35 USDC (shortened; full value 2532.35722220105747485394609 USDC)
1%2.768993 USDC (shortened; full value 2.7689936994762534 USDC)2,971.55 USDC (shortened; full value 2971.5562318278193309352103017063 USDC)2,752.05 USDC (shortened; full value 2752.05053112605747485394609 USDC)
10%15.229465 USDC (shortened; full value 15.2294653471193937 USDC)238,172.76 USDC (shortened; full value 238172.7655863562315839262032169482 USDC)236,949.31 USDC (shortened; full value 236949.31895302295197485394609 USDC)
100%139.834181 USDC (shortened; full value 139.8341818235507967 USDC)567,147.30 USDC (shortened; full value 567147.3010308032969841915096389233 USDC)562,370.58 USDC (shortened; full value 562370.58157230378363485394609 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.

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