Definition. Realized HODL Ratio (RHODL) is a market indicator built as a ratio of bands from the Realized Cap HODL Waves stack.

Technical. The ratio is taken between the 1-week and the 1-2 years RCap HODL bands, and is additionally weighted by total market age to account for increased supply.

Interpretation. A high ratio indicates an overheated market and can be used to time cycle tops.

Notes. Created by Philip Swift.