XRP, Dogecoin, & Shiba Inu All See Negative Sentiment: Signal To Buy?

Data shows social media users have been showing a negative sentiment towards XRP, Dogecoin, and Shiba Inu after their plunges in the past day. FUD Has Engulfed Traders Towards These Altcoins After The Latest Crash According to data from the analytics firm Santiment, the sentiment around XRP (XRP), Dogecoin (DOGE), and Shiba Inu (SHIB) has seen a significant drop recently. The indicator of interest here is the “Weighted Sentiment,” which derives its value from two other metrics: Sentiment Balance and Social Volume. The first of these, the Sentiment Balance, goes through posts/threads/messages related to a specific cryptocurrency on the major social media platforms and puts them through a machine-learning model. Related Reading: Bitcoin Could Crash To $60,000 If This Support Gets Lost: CryptoQuant Head This model is able to identify and separate between negative and positive posts. The Sentiment Balance then takes the difference of these posts to find a net sentiment for the market. The other relevant indicator here, the Social Volume, basically keeps track of the degree of discussion that a given asset is receiving on social media. The metric’s value represents the unique number of posts that are making at least one mention of the coin. While the Sentiment Balance on its own does tell us about what the majority sentiment on social media currently is, it doesn’t quite contain information about how many users actually share this sentiment. Activity on these platforms can fluctuate and sometimes only a few posts around the given cryptocurrency may pop up. Even if all of these posts are bullish, it’s hard to say whether they represent what the entirety of the market thinks. The Weighted Sentiment remedies this issue by taking the Sentiment Balance and weighing it against the Social Volume. With this adjustment, the indicator only reflects an overwhelming dominance in either direction when not only does the net sentiment have a high magnitude, but also a large amount of posts are circulating around the asset. Now, here is a chart that shows the recent trend in this indicator for three altcoins: XRP, DOGE, and SHIB. As displayed in the above graph, the Weighted Sentiment has recently plunged into the negative territory for all three of XRP, Dogecoin, and Shiba Inu. This decline in the indicator has come as the prices of these assets have gone through a drawdown. Naturally, these negative values imply the traders on social media have become bearish towards these assets. This FUD, however, can actually turn out to be a boon for the coins. Historically, cryptocurrencies have tended to move contrary to the expectations of the majority. As such, with the Weighted Sentiment at negative levels, XRP and others could be close to hitting a bottom. Related Reading: Bitcoin Mining Cost At $86,700: Price To Surpass This Soon? “Patient traders who have been waiting for the crowd to give up on these large cap altcoins may finally have their buy opportunity with FOMO at a 2024 low,” notes Santiment. XRP Price XRP has seen its price drop to $0.49 after witnessing a plunge of 6% over the past couple of weeks. Featured image from Shutterstock.com, Santiment.net, chart from TradingView.com

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Did XRP price just bottom against Bitcoin?

XRP price has fallen over 14% year-to-date, pressured by Ripples ongoing legal battle with the SEC. So, a bounce is in order, analysis suggests.

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XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally?

On-chain data shows that XRP and Cardano whales have been accumulating recently, which can be bullish for the prices of these altcoins. XRP & Cardano Whales Have Gone On A Buying Spree Recently As analyst Ali explained in a new post on X, XRP whales have seen their holdings go up over the last couple [...]

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XRP Whales Are Active: Heres Where They Are Sending Coins

On-chain data shows the XRP whales have been active during the past day. Here are the destinations their moves have been heading to. XRP Whales Have Moved Around Big Amounts In Last 24 Hours According to data from the cryptocurrency transaction tracker service Whale Alert, several large XRP transactions have been witnessed on the blockchain in the past day. More specifically, five transfers in total that are of scale often attributed to the whales have occurred on the network inside this window. Since whale transactions involve the transfer of a significant sum of capital, they can sometimes cause fluctuations in the market. Related Reading: 85% Of Altcoins In Opportunity Zone, Santiment Reveals The implications any whale transfers might have for the market depend on their intent. However, the exact purpose behind any transfer can be hard to ascertain. Nonetheless, the address details of the transaction may provide at least some hints about the context surrounding it. First, here are the details regarding the oldest XRP whale transfer from the past day: Looks like this massive move only required a minute fee of 0.000015 XRP to be possible | Source: Whale Alert As is visible above, this transaction involved the movement of 29.74 million XRP, worth $15.7 million at the time of the transfer. The sender was an unknown wallet, likely a whale’s address. On the other hand, the receiver was a wallet attached to a known centralized platform: the cryptocurrency exchange Bitso. Thus, the whale here made a deposit to the exchange from their personal address. Investors usually make such transactions whenever they want to use one of the services platforms like these provide, including selling. As such, exchange inflows can prove to be bearish for the price. The second-oldest whale transaction from the past 24 hours was also an exchange inflow, this one towards Bitstamp. Interestingly, the sending address for this one was the same as the Bitso deposit, so the same whale was probably behind both of these moves. The large investor shifted 27,430,000 XRP ($14.5 million) to the exchange in this second move. Naturally, if the whale has made these large moves for selling, they could be a bad sign for the asset’s price. Though, perhaps fortunately for the XRP investors, two exchange outflows have also occurred recently, which may cancel out these inflows. Below are the details of the two larger withdrawals. The addresses involved in the first of the whale exchange withdrawals today | Source: Whale Alert In this move, a whale took out around 26.67 million XRP ($14 million) from Binance. Today’s exchange outflow also involved Binance, with another 20.85 million tokens ($10.6 million) leaving the platform. The fifth and final transfer was the largest during the past day at a whopping 100 million XRP ($53 million), but this move involved unknown wallets on both sides so it’s impossible to say why the move would have been made. Related Reading: Bitcoin Forms Death Cross & TD-9 Sell Signal: Brace For Impact? The reason could have been anything, from a change of wallets to selling through over-the-counter (OTC) means. XRP Price XRP had recovered to $0.57 earlier in the week, but it appears that the coin has lost this progress; it’s back at $0.52 now. The price of the asset appears to have seen a decline over the last few days | Source: XRPUSD on TradingView Featured image from Ole Kloth on Unsplash.com, whale-alert.io, chart from TradingView.com

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XRP Buy Signal Goes Off, Analyst Says This Is How Long Uptrend Will Last

An analyst has recently explained how a buy signal has formed for XRP on its weekly chart, which could lead to an uptrend lasting for this long. XRP Has Observed A TD Sequential Buy Signal Recently In a new post on X, analyst Ali discussed a buy signal forming in the weekly price of XRP. [...]

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XRP Forms Buy Signal, Analyst Predicts Surge To This Target

An analyst has explained that the XRP price has formed a buy signal that may lead to the cryptocurrency surging up to this target. XRP Weekly Price Has Formed A TD Sequential Buy Setup In a new post on X, analyst Ali discussed how the weekly price of XRP has recently shown a TD Sequential buy signal. The “Tom Demark (TD) Sequential” refers to an indicator in technical analysis that’s generally used for pinpointing locations of probable tops and bottoms for any commodity’s price. The TD Sequential has two phases. In the first phase, called the setup, candles of the same polarity are counted up to nine. Once these nine candles are in, the indicator gives a signal of reversal for the asset. Naturally, the direction in which such a reversal would go depends on the type of candles that lead to the setup’s completion. Related Reading: SingularityNET (AGIX) Rallies 128% As On-Chain Activity Heats Up If green candles resulted in the setup’s formation (that is, the prevailing trend was to the upside), the price could be assumed to have run into a probable top. Similarly, red candles would imply a likely bottom may have now been hit by the asset. The second phase, the countdown, begins once the setup is done. It works very much like the setup, except for the fact that it lasts for thirteen candles instead of nine. Once the countdown is also over, the price could be considered to have attained another point of probable reversal. This time around, the XRP 7-day price has formed a TD Sequential pattern similar to the former. Below is the chart shared by Ali that shows this setup that has appeared for the asset: The TD Sequential buy setup that has appeared for the cryptocurrency recently | Source: @ali_charts on X As displayed in the graph, the XRP weekly price finished the TD Sequential setup with nine red candles recently. This would imply that the indicator has given a buy signal for the coin. It would also appear that the indicator’s effect might already be in action, as the cryptocurrency has been heading up overall since it completed the buy setup. Related Reading: Polygon Could See Bull Rally To $1.73 If This Happens: Analyst “If XRP manages a sustained weekly close above $0.57, it could be the catalyst for a push toward $0.63 or even higher, reaching $0.65,” says the analyst. From the current price of the asset, such a potential run towards $0.65 would mean an increase of more than 22% for the coin. XRP Price XRP has had a poor last week as the asset is down 5% over the period, with its price dropping to the $0.53 level. This means that the asset is still far from the $0.57 threshold the analyst pointed out as a possible bullish catalyst. The chart below displays how the cryptocurrency has performed recently: Looks like the price of the coin has been struggling in recent days | Source: XRPUSD on TradingView Featured image from Shutterstock.com, charts from TradingViewc.om

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XRP, Solana Among Altcoins Witnessing TD Buy Signal, Analyst Reveals

An analyst has pointed out how XRP and Solana are among the altcoins that have just observed a Tom Demark (TD) Sequential buy signal on their 4-hour prices. Four Altcoins Are Seeing A Buy Signal On The TD Sequential In a new post on X, analyst Ali Martinez has talked about the TD Sequential signal that four different altcoins have seen on their 4-hour charts. The “TD Sequential” is an indicator from technical analysis (TA) used to locate probable turnaround points in a given asset’s price. Related Reading: Secret Bitcoin Driver: Exchanges Receiving $40 Million USDT Fuel Per Day The indicator involves two phases: the setup and countdown. During the first of these the setup, candles of the same color are counted up to nine. The nine candles don’t have to be consecutive. Once the counter hits nine, the setup is said to be complete, and the price could be assumed to have reached a reversal location. If the candles leading up to the setup’s completion were green, the TD Sequential would imply a top for the asset. Similarly, if they were red, the indicator would suggest a change of direction to the upside. The second phase, the countdown, begins as soon as the setup is over. This phase of the indicator works in the same manner, save for the fact that candles are meant to be counted up to thirteen instead this time. After the thirteen candles of the same polarity, another potential top or bottom could be considered to have been reached by the asset. Now, here are the charts shared by Martinez that show the completion of the TD Sequential phase of the first type for four altcoins: XRP (XRP), Solana (SOL), Maker (MKR), and Worldcoin (WLD). As is visible in the above graph, the four-hour prices of XRP, Solana, Maker, and Worldcoin have all completed a TD Sequential setup with nine red candles. This naturally means the indicator gives a buy signal for these altcoins. The pattern has taken shape as assets across the cryptocurrency sector have crashed following the US Federal Reserve taking a cautious approach towards further interest rate cuts. Related Reading: Ethereum On-Chain Demand Should Sustain ETH Above $4,000, IntoTheBlock Says If the TD Sequential is anything to go by, at least XRP and the other altcoins may be set to see some renewal of bullish momentum shortly. XRP Price XRP slipped as low as under $2.18 during the crash earlier in the past day, but the coin appears to have seen a small rebound since then, as its price is now trading around the $2.31 mark. Below is a chart that shows how the asset’s performance has looked over the last few days. Featured image from Dall-E, charts from TradingView.com

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XRP Surges 10% As Whales Participate In $300 Million Buying Spree

On-chain data shows the XRP whales have participated in a significant amount of buying recently, a potential reason behind the asset’s surge. XRP Whales Have Added 470 Million Tokens To Their Supply Recently As explained by analyst Ali Martinez in a new post on X, the XRP whales have expanded their holdings over the last [...]

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