XRP Sees Strongest Bullish Sentiment in More Than a Year
According to cryptocurrency analytics platform Santiment, the XRP cryptocurrency is currently experiencing its strongest bullish sentiment in 14 months.
As reported by U.Today, the Ripple-affiliated cryptocurrency recently managed to decouple from Bitcoin amid persistent rumors about settlement talks with the SEC.
Traders are keeping a close eye on the token after the cryptocurrency's Bollinger Bands became the tightest they have ever been. This indicates that an explosive price move could be in the offing.
Moreover, prominent cryptocurrency Scott Melker recently predicted that XRP could be on the cusp of another breakout.
Traders remain optimistic
Santiment has noted that Solana traders remain bullish as well after the token managed to outperform the broader market in July. Its ecosystem keeps benefiting from a high level of excitement surrounding the burgeoning meme coin sector.
Even Bitcoin, the largest cryptocurrency, has experienced its strongest bullish sentiment in 16 months based on the number of positive social media posts despite its somehow slugging price performance.
Alex DovbnyaOn Thursday, the Bitcoin price dipped below the $63,000 level, dragging the rest of the cryptocurrency market down. XRP is the top laggard, plunging by as much as 7%.
The cryptocurrency is down despite the fact that the Fed has strongly hinted that it is finally ready to start cutting interest rates this September.
BNB is the outlier
At the same time, Santiment has noted that BNB is seeing less bullish sentiment as of now. For now, it is largely being ignored by the community, remaining an under-the-radar investment, according to the community.
Despite this, the token has reclaimed fourth place by market capitalization, surpassing Solana (SOL).
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