Despite the recent signs of recovery across the broader cryptocurrency market, feelings about XRP of Ripple are still downward. Altcoin continues to struggle to less than $ 2.20, as more traders are now betting that the price will decrease more.
It seems that merchants are not convinced that the distinctive symbol will lead to an increase in meaningful prices in the short term, as a lot of betting continues against its upcoming potential.
XRP traders are trading on the negative side additional as a sense of feelings
According to Coinglass, there was a fixed increase in short situations targeting XRP. The long/short percentage of the distinctive symbol has remained less than 1 for about two weeks, which reflects an increasing preference for short trading. At the time of the press, this ratio is located at 0.93.
The long/short/short percentage compares the number of long situations (bets that will rise the price) to short sites (betting that the price will decrease) in the market.
When the long/short percentage of the original is higher than 1, there is longer than short situations, indicating that merchants are often betting on the increase in prices.
On the contrary, as with XRP, when the ratio is less than one, traders are betting on a decrease in prices. The long/short percentage of less than 1 for some days highlights the prevailing feeling in the XRP market, indicating additional expectations.
In addition, the likely feelings of XRP remained in negative lands, reaffirming the Haboodi expectations. To this writing, it is in -0.40.
Weighted feelings analyze social media and online platforms to measure the total (positive or negative) tone surrounding the original.
When the value of this scale is negative like this, it indicates an increase in pressure on the sale side and the investor’s confidence fades. This exposes XRP to the risk of extension of its low price.
XRP on the edge of the abyss: Can he sell pressure price less than $ 2?
With short interest and reinforcement, the declining bias, XRP risk sliding without a $ 2 mark. If the current track continues and the pressure pressure is intensified, a decrease may be achieved under this psychological threshold in the short term.
In this scenario, the XRP price can reach $ 1.99 and decrease towards the lowest level per year to $ 1.61.
However, the recovery in the new demand for Altcoin can nullify this landfill. In this case, the XRP price can collapse over $ 2.29 and the trend leads about $ 2.50.
Disintegration
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