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Over 70% of Binance traders are betting long on XRP, indicating high market confidence despite recent price drops and liquidation risks in a highly leveraged environment.
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Ripple’s legal clarity and RLUSD stablecoin launch boost investor optimism, with analysts forecasting XRP to hit $2.60 short-term and potentially reach $5–$7 by mid-2025.
Following as CNF previously detailed, Binance has announced the expansion of its Smart Arbitrage offerings to include Ripple (XRP). Notably, over 70% of Binance traders have taken long positions on XRP, reflecting strong confidence in its potential price appreciation.
With that, XRP, the native cryptocurrency of Ripple Labs, is currently experiencing a surge in bullish sentiment among traders. Therefore, the predictions point toward potential price surge.
In addition, crypto analyst Ali Martinez has observed that if XRP maintains a position above the $2 threshold—as he shared in his recent tweet—it could gain significant momentum, potentially rallying by 30% to reach approximately $2.60.
70.33% of Binance traders with open $XRP futures positions are betting on a price increase!
This optimism is echoed by other market analysts who foresee substantial growth for XRP in the near future. For instance, Arthur Azizov, CEO of B2BinPay, has projected that XRP could attain a price range of $5 to $7 in the first half of 2025, citing Ripple’s advancements in the crypto space as a key driver.
Caution Advised Amid High Leverage
Despite the prevailing optimism, the high percentage of long positions raises concerns about potential market volatility. A crowded trade scenario can lead to sudden price swings, especially if market sentiment shifts unexpectedly.
Recent data from Coinglass indicates that XRP experienced $3.1 million in liquidations over a recent 24-hour period, with long traders accounting for $1.73 million of these losses. This underscores the importance of cautious trading strategies in the current market environment.
Recent Developments Bolster XRP’s Market Position
Several recent developments have also contributed to the heightened interest in XRP. Ripple’s successful resolution of its legal dispute with the U.S. Securities and Exchange Commission (SEC) has alleviated regulatory uncertainties, allowing the company to focus on expanding its ecosystem.
Additionally, Ripple’s launch of the RLUSD stablecoin is expected to enhance liquidity and market confidence, potentially serving as a competitor to existing stablecoins like USDT and USDC.
Current Market Performance
Looking back to the CNF 2024 previous update on XRP accumulation, it is worth noting that big investors are converging on Binance, aiming for a price surge. While the bullish sentiment among traders and recent positive developments suggest potential for XRP’s price appreciation, investors should remain vigilant and consider market dynamics carefully.
At the time of writing, XRP is trading at approximately $1.79 USD, reflecting a decrease of 15.39% in the past day and 14.38% in the past week. This price movement highlights the ongoing market volatility and the critical juncture at which XRP currently stands.
