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XRP, BTC, BNB Traders Believe Prices For These Coins Will Rise Soon: Report

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Sun, 03/13/2022 - 10:04
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Yuri Molchan
A recent report from Santiment shows that traders expect prices to rise for these coins, but not for Polkadot
XRP, BTC, BNB Traders Believe Prices For These Coins Will Rise Soon: Report
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Popular on-chain data provider Santiment has tweeted that trader sentiment is rising regarding three top ten digital currencies – Bitcoin, BNB and XRP.

However, the report stresses that trader sentiment for Polkadot (DOT) has become even more negative.

XRP, BNB, BTC are expected to rise

Weighed Sentiment Comparison metric shows that as of late trader sentiment for Bitcoin and coins affiliated with Ripple and Binance exchange has been rising above all other cryptocurrencies on the market.

However, data shows that sentiment on Polkadot (DOT) is “more negative than usual”.

A month ago, Santiment spread the word about XRP facing a massive accumulation by whales – the second biggest in five years. Back then, the analytics company shared that XRP addresses with more than 10 million coins were stocking up on XRP.

XRP, BNB, Bitcoin price behavior in 2022

Since this year started, all the three coins have been in decline. Bitcoin began descending from the $47,700 area, dropping the lowest of $33,495 on 24 January. Having reached $44,000 a few times over the first quarter of 2022 so far, the flagship cryptocurrency is changing hands at $39,076 as per CoinMarketCap. This is 43.17 percent below the $68,789 all-time high BTC reached on November 10.

On January 3, Binance Coin (BNB) was trading at $531.6. The lowest level this year so far was reached on 24 February - $331.12 per coin. At the time of writing, the asset is sitting at $373.64 - $45.89 percent below its historic high of $690.93 that BNB hit on May 10 last year.

XRP started the year at the $0.8617 mark on January 2. Since then, the coin has seen a low of $0.565 on 24 January. On 8 February, the sixth largest cryptocurrency managed to appreciate to the $0.925 level.

However, the continuous law suit of the SEC against Ripple Labs and two of its bosses – Brad Garlinghouse and Chris Larsen – prevents the coin from reaching new highs. As reported by U.Today recently, the court has denied the individual motions of Garlinghouse and Larsen to dismiss SEC’s law suits started personally against them.

On Saturday, XRP returned to the price line from it started the year – $0.84. At press-time, XRP is changing hands at $0.8007.

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Binance shifts 50.7 million XRP

According to the recent tweet by Whale Alert, the biggest global exchange Binance has transferred a hefty XRP lump of 50,692,009 to a wallet tagged as unknown. This is the equivalent of 40,312,788.

However, Bithomp platform that focuses on XRP on-chain analytics has shown that the wallet marked by Whale Alert as “unknown” is in fact another address that belongs to Binance.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.