XRP witnessed a spike in social dominance, which could lead to a price pump However, sentiment against XRP remained negative On 3 December, crypto analytics firm Santiment tweeted that Ripple’s [XRP] social dominance witnessed spikes over the last few days. This spike could result in short-term positive price action in the near future. However, the coin […]
. Despite the spike in mentions and dominance, the sentiment against XRP remained negative.
XRP’s weighted sentiment declined over the last few days as well, indicating that the crypto community’s overall outlook towards XRP was negative. Furthermore , XRP’s network growth also witnessed a massive decline. This indicated that the number of addresses transferring XRP for the first time had reduced.velocity observed a huge spike, implying that the frequency with which XRP had been moving across exchanges had increased.One reason for the increase in transactions could be the growing Market Value to Realized Value ratio of XRP.
The declining Long/Short difference line showcased that short-term holders would profit off the trade if traders sold in this market. However, long-term holders would have to wait for a longer period to experience some gains.At the time of writing, XRP was trading at $0.390 and. Its price had risen by 19.3% since 14 November and remained between $0.41 and $0.371 after 25 November.
The Relative Strength Index , which was at 44.13, indicated that the momentum was still with the sellers despite XRP’s momentary uptick. However, the Chaikin Money Flow witnessed a spike and was at 0.13. Thus, the money flow indicated that there was strength in the market.Subscribe to get it daily in your inbox.
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