XRP:66.86% of Traders in Binance are Going Long!

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XRP bulls show strength as the Binance Exchange Long-to-Short ratio reaches 2.02. Does this mean more upside for the altcoin?

Over the past 24 hours, most XRP traders on the largest Exchange by trading volume, Binance, have signaled high conviction in XRP’s bullishness. At press time, XRP was trading at $2.17, a 1.66% price surge in the last 24 hours and 16.27% in the past week, despite a low trading volume in the past day.

Looking at the on-chain metrics, 66.86% of traders on Binance bet on XRP’s price uptrend, over 33.14% shorting the asset.

Why are traders betting on XRP’s Price upsurge?

XRP’s price rally could be fueled by the following reasons:

XRP ETFs are on the verge of approval.
Japanese banks are considering XRP for payments.
SWIFT integration with XRP is underway.
Ripple’s SEC case nears resolution.
Possible usage of XRP ledger on real-world asset (RWA) tokenization.

About Post Author

Denis Mwirigi

Denis is an experienced blockchain enthusiast and researcher. He is passionate about the opportunities and possibilities afforded by the advancement of this new technology. With a background in engineering, he blends technical expertise with a deep interest in foreign exchange, financial journalism, and technological trends.

https://scoopist.in