Crypto traders are unusually pessimistic about
The firm said they don’t see this signal as a warning sign to sell. Santiment rather suggested that pessimism like this can mean that panic selling has mostly played out. According to its framework, calmer optimism and rising fear usually is an indicator of a strong buying chance.
“Fear is returning while some underlying market signals remain healthy, which is exactly the kind of divergence contrarian traders typically wait patiently for,” Santiment said.
What makes the pessimism a bit odd is that it’s happening despite the positive developments for XRP. Shareholders recently approved the Evernorth merger with 94% support, a deal that involves a 473 million XRP treasury arrangement.
On the technology front, x402 AI payments running on the XRP Ledger crossed 10 million transactions. RLUSD, Ripple’s stablecoin, also topped a new market cap high of about $2.5 billion, while Binance expanded its support for XRP rewards linked to RLUSD holders.
Meanwhile, Ripple has continued building on its cross-border payments services, a market the estimated could be worth $155 trillion in the future.
Source:: XRP Sentiment Falls to Lowest Level Since August, Santiment Says