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XRP Market Sentiment Bullish with Over 70% Long Positions on Binance
According to recent data, the sentiment in the Ripple (XRP) market has taken a significant turn towards optimism, as more than 70% of traders on Binance have opened long positions. This surge in bullish momentum is evident from the Long/Short Ratio reaching an impressive 2.37, indicating that almost three-quarters of all open $XRP futures positions are betting on a price increase.
The data suggests that over 70.33% of investors with active XRP futures positions on Binance have taken a long stance, while only 29.67% have opted for short positions. This drastic disparity has led to an overwhelming bias towards XRP’s potential upside, as highlighted by the Long/Short Ratio.
Furthermore, a close examination of recent market trends indicates that even when short positions experienced a slight increase at 14:00 on April 4, the long bias remained unbroken. The data reveals a consistent upward trajectory in trader sentiment, solidifying confidence in XRP’s future direction.
It is essential to note that this information should not be taken as a guarantee of XRP’s price movement or any other market-related outcomes. Market trends and sentiments can shift rapidly, leaving investors with significant exposure vulnerable to substantial losses.
However, it appears that the majority of investors on Binance are unwaveringly optimistic about XRP’s future prospects.
Source: https://cryptonewsland.com/xrp-market-sentiment-bullish-with-over-70-long-positions-on-binance/
