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The $XRP retail and whale futures sentiment reads “extremely bullish” across multiple exchanges such as Binance and Bybit.
This comes despite the persistent market struggles that have pushed the $XRP price to lows around $1.10. While short volume dominates the futures environment with $1.03 billion, exchange long/short ratios confirm an “extremely bullish” bias for retail and whale accounts.
$XRP Futures Sentiment Lean “Extremely Bullish”
According to data provided by Coinglass, a leading market analytics platform, more traders are holding long positions than shorts, as market participants continue to anticipate a rebound effort from $XRP following the recent crash.
Specifically, the retail long/short ratio on Binance stands at 2.68, confirming a dominance of long positions and indicating an “extremely bullish” sentiment.
For whale accounts on Binance, the long/short ratio reads 3.03, which suggests there are at least 3 accounts holding long positions for every 1 account holding short positions. This also indicates an “extremely bullish” sentiment among whale accounts.
$XRP LongShort Ratio | Coinglass
While the $XRP long/short ratio for whale positions on Binance has dropped to 1.55, suggesting that either long positions have reduced or short positions have increased, the current reading also tilts to the positive side, indicating a “bullish” sentiment in this area.
The ratios on OKX and Bybit are similarly bullish across most metrics. For OKX, the retail long/short ratio sits at 2.67, indicating “extremely bullish” sentiment. Whale account ratio has dropped to 1.39, confirming a merely “bullish” sentiment. For whale positions, the long/short ratio has spiked to an extreme reading of 23.00.
Meanwhile, Bybit sees a 4.02 ratio for retail accounts (extremely bullish), a 4.01 ratio for whale accounts (extremely bullish), and a 0.97 ratio for whale position (neutral).
However, smart money sentiment for Binance and Bybit sits at “Extremely Bearish,” with only OKX seeing an “Extremely Bullish” sentiment here.
$XRP Futures Volume
Further data from Coinglass shows that the 24-hour volume for short positions amounts to $1.03 billion, marginally surpassing long volume at $978 million.
However, the volume situation is not significant to market sentiments, as long and short volumes are often nearly equal in derivatives markets. This is because the market often features long and short positions in equal volume at a 1:1 ratio, with only a slight skew.
Meanwhile, the $XRP liquidation heatmap indicates that $XRP is witnessing more liquidity above its current price, confirming a dominance of massive shorts, with the largest single cluster involving $402 million at $1.11. If $XRP’s price surges toward this level, this could set the stage for a potential short squeeze.
$XRP Liquidation Heatmap | Coinglass
