Everyone Is Bearish on XRP, but Historical Data Shows Price Rally Ahead

Most of the prominent cryptocurrencies have been seeing significant gains, but the community seems to be bearish around XRP, which is a good sign.

Wahid Pessarlay By Wahid Pessarlay Julia Sakovich Editor Julia Sakovich Updated 2 mins read
Everyone Is Bearish on XRP, but Historical Data Shows Price Rally Ahead

Key Notes

  • The crowd has been showing negativity toward XRP.
  • Historical data translates the FUD to a potential price rally.
  • The crypto market sentiment finally entered the greed zone after almost two months.

XRP XRP $2.93 24h volatility: 2.7% Market cap: $175.31 B Vol. 24h: $6.66 B seems to be stuck below the $3 mark as the community sentiment drops into the bearish zone.

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.

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.

In this case, XRP will likely see a strong bullish momentum from whales.

Entering the Greed Zone, Again

Following the calls for Uptober, the crypto market started seeing notable gains over the past week.

The global crypto market cap reached $4.28 trillion as Bitcoin BTC $123 160 24h volatility: 1.5% Market cap: $2.46 T Vol. 24h: $67.54 B broke above $125,000, with the expectations of a $150,000 price target.

According to data from CoinMarketCap, the market’s fear and greed index reached the greed zone for the first time since mid-August.

The daily crypto trading volume also increased by 20% to $198 billion.

Notably, the increased greed and trading volume could spark high price volatility for both high and low-cap digital assets.

If the volatility helps XRP to break the $3 barrier, its next major target would be the $3.84 all-time high, which was hit in January 2018.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Wahid Pessarlay

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.

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