70 % of Binance merchants are betting on the high prices of XRP, why can they go in the other direction?
In the midst of the main incidents that rocked the encryption market recently, the XRP price was surrendered to bears. The cryptocurrency has pushed more than 30 % of its highest level at $ 80 in January 2025, prompting investors to believe that the end of the decline is close. In response, the majority of merchants who have open positions on the betting price of XRP turned to the rise, but this may go south to the traders concerned.
70.33 % of the financing traders go long
According to the data subscriber Written by Ali Martinez on the X (formerly Twitter), more and more traders are betting on the XRP price to watch the recovery soon. More specifically, among all the open situations on the price of XRP, 70.33 % of the long centers, leaving only 29.67 % expect the price low.
This is in a flagrant contradiction with the fear that has taken control of the market recently with the collapse of prices. It also indicates that encryption dealers expect Altcoin to soon see a bottom and reverse of its current decline.
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During this time, XRP’s open attention remained completely constant, indicating that investors are still actively trading in currency.
like Data From Coinglass, the open interest is still sitting over $ 3.4 billion, and has maintained a close average for this number during the past two weeks. This comes amid declines in the market and disruption as merchants continue to maintain their positions.
Why can the XRP price be disrupted
The large number of encryption traders who eat XRP prices show high levels of hope that Altcoin will be able to recover soon. However, since the encryption market will not do so, it is hardly the way the investors expect.
Usually the best time to enter the market is when the majority of investors are landing as there is a greater room for growth. Therefore, as the vast majority of upward investors continue, the price is likely to be disrupted from here.
However, ascending is still the matter of today as a Korean encryption analyst Propagate The price of XRP will explode. The most interesting is the fact that the encryption analyst believes that XRP will reach 10 to 20 dollars. This goal is still its discussion on a large scale, especially since Altcoin has not yet escaped the rise of 2018 at 3.8 dollars.
The graph from Tradingview.com
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