XRP holders are underwater by more, on average, than they have ever been, according to onchain data that some traders treat as a contrarian floor signal.The reading comes from MVRV, or market value to realized value, a ratio that compares XRP’s price with the average price at which its supply last moved. When it sits below zero, the typical holder is carrying a loss. XRP’s 30-day MVRV is around -45% and its 365-day version around -47%, so both recent buyers and those who have held for a year are deep in the red. Combined, the two are at their lowest…

In 1757, a full generation before the American Revolution, British soldiers in Albany, New York—the main military staging area for the French and Indian War—demanded that the local sheriff open up his jail to detain a town farmer accused of harassing nearby troops. The sheriff, a physically unimpressive shoemaker in his early 30s named Abraham Yates, refused on the grounds that they had no legal writ. Yates complained about the marauding ways of the occupying forces to John Campbell, Fourth Earl of Loudoun, who had recently been installed as England’s commander in chief for all of North America. After Lord…

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