- Ripple XRP’s bullish sentiment was at its peak in 14 months.
- The price of XRP may rise by 25%, reaching $0.75.
Market sentiment appears to be bearish at the moment, with top assets experiencing significant downward momentum over the last few days.
Santiment (formerly Twitter), an analytics company on chain, made a statement on X on August 2nd, stating the following: Ripple [XRP] The market’s bullishness was at its highest in 14 months.
XRP reaches the highest bullish sentiment for over a calendar year
According to this post, at the moment, only top cryptocurrency, such as Bitcoin, is attracting traders’ attention. Bitcoin [BTC], Ethereum [ETH], Solana [SOL]The XRP currency is.
Santiment Bitcoin, along with XRP also experienced its strongest bullish sentiment since 17 months.
XRP has been the most successful cryptocurrency in recent months, outperforming all other cryptocurrencies mentioned.
Performance of XRP
At the time of publication, XRP’s price was around $0.57. This represents a 6.4% drop in 24 hours. Over a longer time period, XRP’s price has risen by over 20%.
This 20 percent price increase over the last thirty days is higher than BTC (Bitcoin), ETH (Ethereum), SOL (Solium), and BNB which experienced a change in prices of 2,9%, -8.5%, 12%, respectively.
The technical analysis of key levels
According to the expert analysis of technical experts, XRP was bullish. The price could reverse from currency levels. In the near future, there is a good chance it will soar by over 25% to reach the $0.75 mark.
XRP trades above the 200 Exponential moving Average (EMA) on daily and four-hour timeframes. Any asset that was trading above the 200 EMA indicated that it remained bullish.
XRP also recently gained support from the 200 EMA on the 4 hour timeframe. After that support it has now experienced an upward move.
Despite the bullish view, if XRP is unable to keep the current level of $0.57 and closes the daily candles below the $0.55 threshold, its price could drop by over 12%.
Crucial levels of XRP
According to Coinglass, an analytical firm that operates on-chain, as of today, major levels for liquidation are $0.619 at the upper end and $0.545 at the lower, respectively.
If the sentiment of the market remains the same and the XRP drops to $0.545, then nearly $13,03 million will be liquidated from the long positions.
Click Here to Read Ripple’s [XRP] Price Prediction 2024-25
If sentiments change and XRP soars up to $0.619 then nearly $46,98 million in short positions will be liquidated.
Open Interest for XRP (OI) dropped 12.5% over the past 24 hours. This indicates a lower level of interest among investors and trader.
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Source: ambcrypto.com