The XRP/USDT Long/Short Ratio on Binance has increased to 2.83.
The trading volume of the fifth largest cryptocurrency by market capitalization – XRP – has spiked by over 90% in the past 24 hours, whereas other indicators, such as the asset’s futures long/short ratio, have also headed north.
Those are considered bullish factors, indicating that traders believe the coin’s price could soon start rallying.The cryptocurrency market has shown signs of serious revival lately, with the prices of most assets spiking to weekly highs. Such is the case with Ripple’s native token – XRP – which surpassed the $0.50 level, reaching a 10-day peak.considerably, being up more than 90% in the past 24 hours. Specifically, traders exchanged approximately 1.
It is also worth observing the numbers charted on Binance . CoinGlass estimated that the XRP/USDT Long/Short Ratio has increased to 2.83 on the world’s largest cryptocurrency exchange. The rise of the metric indicates that there are more long positions than short ones, which suggests a bullish sentiment among traders.Several analysts and experts have recently envisioned a bright future for XRP, predicting its price could skyrocket to a new all-time high in less than five years. One such person is Shannon Thorp, whoStill, this forecast sounds preposterous, to say the least, considering the fact that XRP’s market valuation should climb to $260 trillion for this to happen.
Those who wish to take a look at how XRP could perform throughout the next bull run can check out our recent video on the matter:
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