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Amid the major crashes that have rocked the crypto market in recent times, the XRP price has succumbed to bears. The cryptocurrency has pushed back over 30% from its $3.2 high of January 2025, leading investors to believe that the end of the decline is near. In response to this, the majority of traders with open positions betting on the XRP price have turned bullish, but this could go south for the traders involved.
70.33% Of Finance Traders Go Long
According to data shared by crypto analyst Ali Martinez on the X (formerly Twitter) platform, more and more traders are betting on the XRP price to see a recovery soon. More specifically, of all the open positions on the XRP price, 70.33% are long positions, leaving only 29.67% expecting the price to go down.
This is in stark contrast to the fear that has dominated the market in recent times as prices have crashed. It also suggests that crypto traders expect that the altcoin will soon see a bottom and reverse from its current decline.
Related Reading: Has The Dogecoin Price Bottomed Out? Analyst Points Out ‘Critical Decision Zone’
During this time, the XRP open interest has also remained quite steady, showing that investors are still actively trading the coin.
As data from Coinglass shows, open interest is still sitting above $3.4 billion and has maintained a close average to this figure over the last two weeks. This comes amid market dips and crashes as traders continue to maintain their positions.
Why The XRP Price Could Crash
The high number of crypto traders who are long on the XRP price shows high levels of hope that the altcoin could recover soon. However, as the crypto market is wont to do, it hardly ever goes the way that investors expect.
Usually, the best time to get into the market is when the majority of investors are bearish as there is more room for growth. So, with the vast majority of investors still bullish, the price is more likely to crash than recover from here.
Nevertheless, bullishness continues to be the order of the day as a Korean crypto analyst has predicted that the XRP price will explode. Even more interesting is the fact that the crypto analyst believes that XRP will hit $10-$20. This target continues to be widely debated, especially as the altcoin is yet to beat its 2018 all-time high of $3.8.
Chart from TradingView.com
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