XRP, Bitcoin See Lack Of Euphoria: Why This Is Bullish

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,946,510,943,915	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,946,510,943,915

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-263.65	-0.27%	98,494.52	98,494.51	98,494.52

Price Change

Price Change %

Current Price

Bid Price

Offer

-263.65

-0.27%

98,494.52

98,494.51

98,494.52

High Price	Low Price	Open Price	Prev. Close	52 Week Range
98,987.72	98,057.88	98,731.99	98,758.17	38,501.00 - 99,860.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

98,987.72

98,057.88

98,731.99

98,758.17

38,501.00 - 99,860.00

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	01:30:20	0.002700	98,476.00	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

01:30:20

0.002700

98,476.00

USD

Price x Volume	Volume	Base Symbol	Related Pairs
135,594,095.10	1,375.51	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

135,594,095.10

1,375.51

XRP, Bitcoin See Lack Of Euphoria: Why This Is Bullish

04/12/2024 5:00am

NEWSBTC

Data shows social media users aren’t euphoric towards Bitcoin, XRP, and other top cryptocurrencies despite the market-wide surge, a sign that could be bullish for their prices. Positive Sentiment Vs. Negative Sentiment Ratio Remains Low For Top Coins According to data from the on-chain analytics firm Santiment, sentiment around digital assets has been low recently, even for the coins that have enjoyed historic runs. The indicator of relevance here is the “Positive Sentiment Vs. Negative Sentiment Ratio,” which, as its name suggests, tells us about how the positive and negative comments about a given asset being made by social media users currently compare. This metric sources data from major social media platforms like X, Telegram, Reddit, and 4Chan. It puts these posts/messages/threads containing mentions of the relevant term through a machine-learning model to differentiate between positive and negative ones, and finds the difference in their count. Related Reading: Strong Bitcoin Rise “Expected Within 1-2 Months,” Quant Explains Why When the value of this indicator is positive, it means the posts about a positive sentiment outweigh the ones containing a negative sentiment. On the other hand, being negative implies that a bearish mentality is dominant on social media. Here is a chart showing the recent trend in the Positive Sentiment Vs. Negative Sentiment Ratio for five assets: Bitcoin (BTC), XRP (XRP), Ethereum (ETH), Cardano (ADA), and Stellar (XLM). As displayed in the above graph, the Positive Sentiment Vs. Negative Sentiment Ratio has remained almost neutral for all these cryptocurrencies recently. This suggests the market isn’t leaning one way or the other. The trend is interesting, considering XRP, Cardano, and Stellar have seen massive price surges. Generally, positive comments tend to spike when such rallies occur, like they did for Bitcoin early last month when Donald Trump won the US Presidential Elections. Historically, digital assets have often shown moves opposite to what the crowd expects. This means that a price correction can become probable whenever bullish sentiment grows too big. Related Reading: Dogecoin TD Sell Signal Goes Off, But Here’s Why Parabolic Bull Run Can Still Continue Considering that euphoria hasn’t overtaken the investors of XRP and others despite the price surges, it’s possible that their runs could still have room to continue. The Positive Sentiment Vs. Negative Sentiment Ratio could still be to keep an eye on in the near future, however, as social media sentiment can sometimes flip very quickly, especially if some big news comes out. A spike in the indicator would naturally be a bearish sign for the market. XRP Price At the time of writing, XRP is floating around $2.58, up almost 17% over the past seven days. Featured image from Dall-E, Santiment.net, chart from TradingView.com

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