Today is an important day for cryptocurrencies and the news to come as we enter the weekend is very important. Although the Iranian attacks that started last week caused a rise in cryptocurrencies, BTC could not last longer than 74 thousand dollars and is about to lose the 70 thousand level. On the other hand XRP Coin Binance data gives an important signal.
XRP Coin Signal
Since the beginning of February, TOTAL3, which represents the market cap of altcoins excluding Ethereum, has increased by 12% and as of March BTC The start of its rise increased hopes in altcoins. However, returning may not be as easy as it seems.
According to Binance data in XRP Coin Investors taking derivative positions tend to short sell despite the 60% decline. When market consensus generally leans in one direction, historical data shows that the majority is surprised. So the dominant short trend may actually be a harbinger of a short-term rise or reversal from the bottom. However, this scenario is only possible if BTC exceeds 70 thousand dollars. Unfortunately, BTC lost 70 thousand dollars at the time of writing and if the sales continue, the dominant trend may be justified.
An on-chain analyst nicknamed Darkfost made the following warning about this;
“Looking at historical data, periods where funding rates on Binance have reached extremely negative levels have often been followed by short-term recoveries or corrective rallies in XRP. Such a structure does not guarantee a permanent trend reversal, but it still creates a notable positive signal for investors looking to identify attractive entry points or gain gradual exposure to the asset.”
XRP Coin Price Prediction
Just as the article was being prepared, BTC lost the $70,000 threshold and is pulling down its 24-hour bottom. Even though XRP Coin reached up to $1.47 in this process, we are now moving towards the weekend with the risk of more losses, as BTC has blocked the general rise. When XRP Coin, which found buyers at $ 1.38, loses $ 1.35 and $ 1.33, the next target will be the $ 1.28 base.
If BTC does not see extreme and rapid declines, XRP Coin may not come any closer to $1. However, since it is the first weekend since the start of the war, expecting big things for the next 2 days should not be called a delusion.
