The asset, which has a market capitalization of $177.8 billion, has been struggling to remain above the psychological $3 zone over the past two weeks. XRP is currently trading at $2.97.
According to the market intelligence platform Santiment, retail investors have been sharing bearish comments around XRP since Oct. 4.
😮 XRP is seeing it's highest level of retail FUD since Trump's tariffs were announced 6 months ago. There have been more bearish comments than bullish for 2 of the past 3 days, which is generally a promising buy signal. Markets move opposite to small trader expectations. pic.twitter.com/flO7jjlo9m
The fear, uncertainty, and doubt, also called FUD, from small traders isn’t a bad sign, Santiment says. The negative sentiment might even be “a promising buy signal,” the market intelligence firm wrote in an X post.
Santiment’s historical data around XRP’s social sentiment suggests that the market has been moving in the opposite direction of what retail traders expect.
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Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.