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XRP Showing Bullish Sign: Santiment

Tue, 06/27/2023 - 05:36
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Alex Dovbnya
XRP is showing signs of an impending price spike, according to market analytics firm Santiment
XRP Showing Bullish Sign: Santiment
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The crypto market appears relatively stagnant to start the week, Ripple-affiliated XRP is catching attention with signs of bullish momentum, according to a tweet by market analytics firm Santiment.

The firm suggests that XRP is showing "a slight bullish sign due to mild trader capitulation." In simpler terms, a number of traders are selling their XRP, potentially at a loss, causing a drop in prices that historically precedes a rise in value. This phenomenon known as "capitulation" often precedes market bottoms, which then sets the stage for a price surge.

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 The tweet further explained this behavior stating that "historically, coins moving at a greater ratio at a loss compared to profit have a higher likelihood of rising in value."

This sentiment is based on a classic trading strategy where a major sell-off can often lead to a price increase. When a significant portion of investors capitulate, or sell their positions in anticipation of a downturn, this increased supply can drive the price down temporarily. But once the sell-off ends, the reduced selling pressure can allow the price to increase.

In the broader cryptocurrency market, data from CoinGecko shows a relatively flat performance. Bitcoin (BTC), the leading cryptocurrency, is trading at around $30,303 with a 7-day increase of 12.5%. Ethereum (ETH), the second-largest cryptocurrency, is valued at $1,867.41 with a 7-day increase of 7.9%. XRP, despite showing a 7-day decrease of 2.0%, has been identified by Santiment as showing potential for a value increase. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at