Oh, darling! It seems our dear XRP traders on Binance are positively brimming with optimism, as their long positions have gallantly outstripped the shorts in recent days. The latest Coinglass chart for the XRP/USDT perpetual market is practically singing a tune of bullishness—indicating that most traders are simply convinced that XRP is on the verge of a delightful price rise. 🎉
Long Live the Bullish Traders!
Now, if we take a gander at the long and short positions on the chart, we see that the longs (those charming green bars) account for over 70% of total positions during this little observation period. Meanwhile, the shorts (the rather drab red bars) have barely mustered any significant momentum. How quaint! 😏
However, let’s not get too carried away, shall we? The sentiment surrounding XRP has been as stable as a wobbly table at a dinner party, with sharp dips and rebounds that would make even the most seasoned trader clutch their pearls. Around May 19, interest from longs took a little holiday, allowing the shorts to gain the upper hand before a swift recovery. During this little drama, the percentage of long accounts dipped closer to 50% before bouncing back like a rubber ball. 🎈
This little shift reflects a smidgen of uncertainty in the market, but the rapid return to a higher long ratio shows a robust belief among traders that XRP could indeed recover and continue its upward trajectory. How positively optimistic! 🌈
The price trend (represented by the rather dashing black line over the long/short bars) mirrors this sentiment shift. Even during price pullbacks, the longs remained above 60%, indicating that most traders viewed these dips as splendid buying opportunities rather than reasons to flee in terror. 🏃♀️💨
Since this long/short account ratio is based on the number of trader accounts on each side, it highlights the breadth of this bullish sentiment. The significant number of accounts leaning toward longs points to a delightful wave of retail optimism. How charming! 💖
But, my dear, let’s not get too comfortable. The current wave of optimism around XRP can change quicker than a diva’s mood, especially if traders start factoring in other important elements like those pesky macroeconomic conditions. 😬
XRP Active Addresses: A Fluctuating Affair
Meanwhile, data from Glassnode reveals that the number of active addresses on the XRP network has been fluctuating like a soap opera plot over the past ten days. As of May 12, active addresses stood slightly above 38,000. However, a sharp decline followed, with the number dropping to about 33,000 by May 16. Oh, the drama! 🎭
On May 17, there was a sudden spike in activity, with active addresses rising to nearly 44,000—the highest level during this period. Twenty-four hours later, the number fell below 30,000 and remained in that range for the next three days. Then, on May 21, it rebounded to approximately 33,000. Quite the rollercoaster, wouldn’t you say? 🎢
As of the latest CoinMarketCap update, XRP is trading at a delightful $2.41 after a 1.28% gain in the last 24 hours. How positively thrilling! 💃
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2025-05-23 02:43