XRP, BTC, BNB Traders Believe Prices For These Coins Will Rise Soon: Report

Yuri Molchan

A recent report from Santiment shows that traders expect prices for these coins to rise, but not for Polkadot

Popular on-chain data provider Santiment has tweeted that merchant sentiment is on the rise regarding three top ten digital currencies – Bitcoin, BNB and XRP.

However, the report highlights that trade sentiment for Polkadot (DOT) has turned even more negative.

XRP, BNB, BTC are expected to rise

Weighted sentiment comparison stats show that traders’ sentiment for Bitcoin and coins affiliated with Ripple and Binance exchange has been rising above all other cryptocurrencies in the market lately.

However, data shows that sentiment on Polkadot (DOT) is “more negative than usual”.

A month ago, Santiment broke the news about XRP facing a massive build-up from whales – the second largest in five years. At the time, the analytics company shared that XRP addresses with more than 10 million coins had XRP in stock.

XRP, BNB, Bitcoin Price Behavior in 2022

Since the beginning of this year, all three coins have fallen into disrepair. Bitcoin started falling from the $47,700 area and fell to its lowest of $33,495 on Jan 24. After hitting $44,000 a few times so far in Q1 2022, the flagship cryptocurrency is changing hands at $39,076 according to CoinMarketCap. This is 43.17 percent below the $68,789 all-time high that BTC reached on Nov. 10.

On January 3, Binance Coin (BNB) was trading at $531.6. The lowest level so far this year was reached on February 24 – $331.12 per coin. At the time of writing, the asset stands at $373.64 – $45.89 percent below the all-time high of $690.93 that BNB reached on May 10 last year.

XRP started the year on January 2 at $0.8617. Since then, the coin has hit a low of $0.565 on January 24. On February 8, the sixth largest cryptocurrency managed to appreciate to the $0.925 level.

However, the SEC’s ongoing lawsuit against Ripple Labs and two of its bosses – Brad Garlinghouse and Chris Larsen – is preventing the coin from reaching new highs. As recently reported by U.Today, the court dismissed Garlinghouse and Larsen’s individual requests for the SEC lawsuits filed against them personally.

On Saturday, XRP returned to the price line from the start of the year – $0.84. At time of printing, XRP is changing hands for $0.8007.

Binance Shifts 50.7 Million XRP

According to Whale Alert’s recent tweet, the largest global exchange Binance has transferred a hefty XRP lump of 50,692,009 to a wallet tagged as unknown. This is the equivalent of 40,312,788.

However, the Bithomp platform that focuses on XRP on-chain analytics has shown that the wallet marked as “unknown” by Whale Alert is in fact another address that belongs to Binance.

Leave a Reply

Your email address will not be published.