XRP, the fourth largest cryptocurrency by market cap, bets on major prices as all traders enter. More than 70% of the Binance Traders are in charge of long positions and have a strong confidence in the future of XRP. ALI Martinez, an encryption analyst, emphasizes that if XRP maintains more than $ 2, it can get exercise amount and increase $ 2.60 from 30%.
But if many merchants accumulate in a long position, can the sudden price swing shakes work?
70%of merchants are optimistic in the future of XRP.
According to the data shared by Martinez, the long and short ratio of the four -hour XRP has reached 2.37, which means that betting at prices is much more than those who expect to rise.
In general, the longer and the shorter the ratio, the higher the price is expected to rise. However, it can indicate a overcrowded deal, and when the emotions move unexpectedly, it sometimes leads to a sudden price change.
In addition, Martinez found that 70.33%of the accounts were in charge of long positions, and only 29.67%of them lacked assets. This represents a strong slope of optimism among XRP traders.
Should the merchant be careful?
The optimistic feelings are strong, but traders should be careful. High/short ratio often increases the risk of liquidation. Especially when the price is moved in preparation for the majority.
According to CoingLass, XRP has been liquidated $ 3.1 million over the last 24 hours. The Long Traders, which expected the price to rise, lost $ 1.73 million, and the short trader betting on the price drop lost $ 1,36 million.
If the price of the XRP suddenly drops, it can be closed using a long position, which can lead to further reduction.
XRP aims to increase 30%
Martinez also suggests that XRP prices have strong signs of potential rally. According to the 4 -hour XRP price chart analysis, XRP is currently trying to get out of the integration stage.
If the price is maintained at more than $ 2, you can attract more buyers to increase momentum and push XRP to $ 2.60 with the next major resistance. This can increase by 30% at the current level.
Currently, XRP has fallen by about 2% over the last 24 hours and its market cap is $ 121 billion, which is about $ 2.09.