Binance Traders Show Massive XRP Bullish Signals, Here’s What Happened

XRP is attracting a wave of bullish sentiment on Binance, with many users placing long bets on the token. According to CoinGlass data, 67.6% of Binance accounts trading XRP are currently in long positions.

This strong leaning towards the bullish side is also seen among Binance’s top traders, ranked in the top 20% by margin balance. Their collective positions further signal growing confidence in XRP’s near-term movement on the exchange.

The long/short ratio for XRP on Binance now stands at 2.09, pointing to a wide gap in trader positioning. While this highlights strong optimism on Binance, sentiment is not equally shared across the broader crypto market.

Across all major trading platforms, 51.32% of traders are still positioned short on XRP. This indicates that while Binance traders are increasingly bullish, the overall market remains slightly tilted to the bearish side.

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Massive Long Activity Comes Amid Price Rebound and Liquidations

The surge in bullish sentiment among Binance users coincides with XRP’s recovery from recent losses. The token has climbed back by roughly 25% since hitting a multi-month low of $1.60 on April 7.

At the time of reporting, XRP is trading at $2.15 on Binance after briefly touching an intraday high of $2.16. This upward trend appears to fuel confidence among retail and top-tier traders on the exchange.

XRP decreased its open interest between yesterday and today, dropping by more than 4% to $3.15 billion. Open interest figures show that bullish traders are increasing their Binance bets, but other traders have chosen to reduce their positions.

XRP positions worth nearly $4 million were liquidated during the last day, and long trades represented 61.5% of the total. People who take bullish positions continue to carry risk factors because long-side liquidation orders make up most of the cases.

Conclusion

The sharp rise in long positions on Binance highlights a concentrated bullish signal for XRP on the platform. While broader sentiment remains mixed, Binance traders are betting on continued upward movement in XRP’s price.

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