- $XRP price reverted from $1.5 resistance amid renewed selling pressure within the formation of falling channel pattern.
- Crypto Sentiment Turns Bearish for Bitcoin and Ethereum, While $XRP Sees Surge in Optimism.
- Amid current market correction, the 20-and-50-day exponential moving average acts as dynamic resistance against $XRP buyers.
$XRP, the native cryptocurrency of the $XRP ledger, plunged 3.56% during Wednesday’s U.S. market hours to trade at $1.42. The selling pressure follows broader market weakness amid the geopolitical tension in the middle east. Despite the intraday sell-off, the social media sentiment surrounding $XRP witnessed a notable spike, indicating a bullish outlook towards this asset following recent partnership expansion announcements. Is altcoin poised for a bullish rebound?
$XRP Defies Market Slowdown With Rising Social Sentiment
Social media chatter in the cryptocurrency space shows a contrasting divide in how traders feel in the current state of the market slowdown. Data tracked by Santiment has shown that discussions around Bitcoin and Ethereum have become significantly more negative in the past few days with critical postings far more prevalent than supportive ones and positive to negative ratios of crypto assets veering well into the pessimistic range.
cryptonewsz.com
