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The XRP price seems to be renewed in the crypto market. This is basically transmitted by the feeling of mainly the bull market and growing binance activities. More details in the following paragraphs!
In short
- Krypto traders massively deposit on XRP, with 70 % long positions despite persistent volatility.
- Network activity remains unstable and the peaks of active addresses emphasize the uncertainty of investor crypto.
The numbers speak for themselves: crypto traders massively bet on XRP
On the crypto binance exchange more than 70 % of positions per XRP/USDT Perpetual Market There are long positions. This signal indicates a strong increase in the increase in part of investors in cryptocurrencies.
Another fact reported from Quinec: The proportion of long positions remains high even at the price of XRP. They often exceed 60 %. This shows a sense of self -confident market, where each drop is perceived as an opportunity to buy.
It is true that a slight increase in short positions around 19th May sent out doubts. However, crypto traders returned quickly to the accusation.
Finally, a long/short ratio also straightened. Which shows typical durability and bull market. This dynamics could announce a new reflection for crypto-active XRP, especially if the technical signals remain green.
Active XRP addresses reveal strong volatility of the cryptocurrency network
Besides Trendy crypto of tradersXRP network activity remains unstable. According to Glassnode, active addresses differ from 38,000 to more than 44,000 between 12 and 17 May. Currently, they dropped below 30,000.
This flow emphasizes some nervousness in the crypto community, potentially associated with fluctuations in the XRP price. Yet this A sudden image of addresses It can also be interpreted as a revival of the exact interest of users or institutional investors.
At the time of writing this article, the XRP token is replaced for $ 2.08. In 24 hours, it recorded an increase of 1.28 %.
Despite the optimistic signals on the XRP, the future of this crypto assets remains uncertain. Traders will have to remain vigilant in the face of volatility, which is still present in the markets.
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My name is Ariela and I’m 31 years old. I have been in the area of writing a website for 7 years. I have discovered discovery and cryptocurrency for only a few years. But it is a universe that interests me a lot. And subjects treated in the platform allow me to learn more. In my free time, the singer also cultivates a great passion for music and reading (and animals!)
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.