Despite the recent signs of recovery in the crypto market in general, the feeling around Ripple XRP is still bassist. The altcoin continues to fight below 2.20 dollars, since more traders Now they bet that the price will fall further.
Los traders They seem not to be convinced that the Token will experience a significant increase in short -term price, with many continuing betting against its upward potential.
XRP traders anticipate more fall while feeling worsens
According to Coinglass, there is a constant increase in short positions aimed at XRP. Token’s long/shorts has remained below 1 for almost two weeks, reflecting a growing preference for short operations. At the time of publication, this relationship is 0.93.
XRP’s long/short ratio compares the number of long positions (bets to which the price will rise) with short positions (bets to which the price will fall) in a market.
when the long/short -active stream is above 1, there are more long positions, which indicates that the traders They are predominantly betting on a price increase.
On the contrary, as with XRP, when the relationship is below one, traders They are betting on a price drop. The long/shorts remaining below 1 for a few days It highlights a predominant bearish feeling in the XRP marketpointing to expectations of more falls.
In addition, XRP’s weighted feeling has remained in negative territory, reaffirming the bassist perspective. At the time of writing this, it is in -0.40.
The weighted feeling analyzes social networks and online platforms to measure the general tone (positive or negative) around an asset.
When the value of this metric is negative as in this case, it indicates a greater sale pressure and a confidence of the investors that fades. This puts XRP at risk of extending its price drop.
XRP to the limit: Could the sales pressure push the price below 2 dollars?
With the short interest and the bearish bias strengthening, XRP runs the risk of falling below the mark of 2 dollars. If the current trajectory continues and the sales pressure intensifies, a fall below this psychological threshold could materialize in the short term.
In that scenario, the price of XRP could reach $ 1.99 and fall towards the minimum of the year of 1.61 dollars.
However, a resurgence in the new demand for the altcoin I could invalidate this bearish projection. In that case, the price of XRP It could break above 2.29 dollars and sign up for $ 2.50.
Discharge of responsibility
Discharge of responsibility: According to Trust Project guidelines, this price analysis article has only information purposes and should not be considered financial or investment advice. Beinlypto undertakes to provide precise and impartial reports, but market conditions are subject to changes without prior notice. Always conduct your own research and consult a professional before making any financial decision.
