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XRP

70% Of Binance Traders Are Betting On An XRP Price Rise, Why It Could Go The Other Way

Scott Matherson
by Scott Matherson
5 months ago
·
Posted in XRP
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Amid the major crashes that have rocked the crypto market in recent times, the XRP price has succumbed to bears. The cryptocurrency has pushed back over 30% from its $3.2 high of January 2025, leading investors to believe that the end of the decline is near. In response to this, the majority of traders with open positions betting on the XRP price have turned bullish, but this could go south for the traders involved.

70.33% Of Finance Traders Go Long

According to data shared by crypto analyst Ali Martinez on the X (formerly Twitter) platform, more and more traders are betting on the XRP price to see a recovery soon. More specifically, of all the open positions on the XRP price, 70.33% are long positions, leaving only 29.67% expecting the price to go down.

XRP
Source: X

This is in stark contrast to the fear that has dominated the market in recent times as prices have crashed. It also suggests that crypto traders expect that the altcoin will soon see a bottom and reverse from its current decline.

Related Reading: Has The Dogecoin Price Bottomed Out? Analyst Points Out ‘Critical Decision Zone’

During this time, the XRP open interest has also remained quite steady, showing that investors are still actively trading the coin.

As data from Coinglass shows, open interest is still sitting above $3.4 billion and has maintained a close average to this figure over the last two weeks. This comes amid market dips and crashes as traders continue to maintain their positions.

XRP open interest
Source: Coinglass

Why The XRP Price Could Crash

The high number of crypto traders who are long on the XRP price shows high levels of hope that the altcoin could recover soon. However, as the crypto market is wont to do, it hardly ever goes the way that investors expect.

Related Reading: Shiba Inu Price In April: ML Algorithm Predicts 96.54% Jump In Shocking Timeline

Usually, the best time to get into the market is when the majority of investors are bearish as there is more room for growth. So, with the vast majority of investors still bullish, the price is more likely to crash than recover from here.

Nevertheless, bullishness continues to be the order of the day as a Korean crypto analyst has predicted that the XRP price will explode. Even more interesting is the fact that the crypto analyst believes that XRP will hit $10-$20. This target continues to be widely debated, especially as the altcoin is yet to beat its 2018 all-time high of $3.8.

XRP price chart from TradingView.com
XRP faces bearish headwinds with a break of support | Source: XRPUSDT on TradingView.com

Chart from TradingView.com

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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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