Ripple (XRP) price, after a volatile week, is now around $2.4. Market data shows a bullish trend among Binance traders on this digital currency. Analyst Ali Martinez reports over 72% of future positions on Binance are for buying XRP. The question arises: is the high volume of buying trades a positive sign for XRP or a warning of a price drop? An optimistic view suggests traders might anticipate a major event in the near future. Rumors about a potential approval of a Ripple Exchange-Traded Fund (ETF) in the US have surfaced, which could significantly boost XRP price. Additionally, the resolution of Ripple’s legal case with the US Securities and Exchange Commission (SEC) with a positive outcome has boosted hopes among investors. It’s worth mentioning that news of the case closure led XRP price from $2.3 to $2.6, but then dropped back to $2.4. On the other hand, a bearish view argues that this level of optimism could be concerning. According to Sentiment platform analyses, when many people are bullish on a digital currency, the market often moves against their expectations. This implies XRP may soon undergo a price correction. If this happens, a wave of buying positions liquidation could intensify selling pressure and accelerate the decline in Ripple price. As Warren Buffet says: ‘Buy when others are fearful, and sell when others are greedy.’ You can check the live prices of all tokens and cryptocurrencies on the momentary price page.
