Binance futures traders have recently turned bullish on Ripple’s XRP, with over 66% of their positions currently long. This follows a similar pattern observed in the past, when such bullish developments led to price corrections. Is history repeating itself? 
Recall that Binance saw similar bullish sentiment on April 5-6, exceeding 70% for long positions on XRP.
Despite this optimism, XRP’s price has shown a tendency for downward movement following such bullish activity: Last week, the token saw a significant drop of 25%, aligning with broader market turbulence. 
The surge in trading sentiment was not isolated to Ripple. The crypto industry as a whole experienced a decline during a period marked by escalating tensions between US and the rest of the world.
However, XRP’s price didn’t just experience a sudden downturn; in late March, it saw another notable correction after Binance traders held long positions exceeding 72%. This time, though, the token managed to gain some traction before declining. 
Even without guaranteeing future outcomes, observing past price movements offers valuable insights.
After all, Warren Buffett’s wisdom reminds us: “Be greedy when others are fearful, and be fearful when others are greedy.” Perhaps this sentiment reflects the current bullish outlook on XRP from Binance futures traders. 
The post Is XRP in Trouble? Last Time This Happened Ripple’s Price Dumped by 25% appeared first on CryptoPotato.