XRP sentiment on social media has remained comparatively strong regardless of a crypto market stoop that has seen Bitcoin fall near $70,000.
Santiment stated in an X publish on Wednesday that “XRP is seeing a extra optimistic outlook amongst merchants” on social media as Bitcoin (BTC) and Ethereum (ETH) have “turned extraordinarily bearish” after a serious downswing.
Santiment’s Optimistic/Damaging sentiment indicator, which measures the ratio of constructive to detrimental social media mentions for a cryptoasset, reveals XRP (XRP) has a rating of two.19, 103% greater than Ethereum’s 1.08 and 173% greater than Bitcoin’s 0.80.
Over the previous seven days, the costs of Bitcoin and Ethereum have fallen by 4.97% and 4.92%, respectively, in accordance to CoinMarketCap. XRP has fallen even additional, dropping 6.82% over the identical time-frame.
Swyftx lead analyst Pav Hundal advised Cointelegraph on Wednesday that XRP holders “put on volatility otherwise.”
“XRP doesn’t transfer wildly outdoors the bounds of the remainder of the market,” he stated, arguing that XRP holders have an “unwavering religion” within the asset’s fundamentals, so that they are typically much less skeptical within the drawdown.
Brief-term “reduction rally” could also be in sight
“The approaching weeks look robust,” Hundal stated, emphasizing that XRP is “nonetheless down” 35.5% over the previous 30 days.
Santiment argued that the fearful sentiment could result in market upside.
“There stays a robust argument for a short-term reduction rally so long as the small dealer crowd continues to point out disbelief towards cryptocurrency as an entire,” Santiment stated.
Different.me’s Crypto Worry & Greed Index, which measures general crypto market sentiment, posted an “excessive concern” rating of 12, the bottom it has recorded since Dec. 16, signaling excessive warning amongst traders.
“Full-blown crypto winter” could also be coming to an finish
Different indicators level to the identical warning, with the CoinMarketCap Altcoin Season Index at the moment in “Bitcoin Season” at 32 out of 100, suggesting traders proceed to favour Bitcoin over riskier cryptocurrencies additional down the curve.
Associated: Kyle Samani leaves Multicoin in ‘bittersweet second’ to discover new tech
Bitwise chief funding officer Matt Hougan stated in an X publish on Tuesday that “Crypto Twitter” has solely realized that the crypto is in a “full-blown crypto winter.”
“Now we have been in a crypto winter since January 2025. Chances are high, we’re nearer to the tip than the start,” Hougan stated.
Journal: South Korea will get wealthy from crypto… North Korea will get weapons
