business
XRP sentiment falls to 8-month low, and that has been a buy signal before
Key takeaways
- XRP traded at $1.14 on Friday, up 2.3% on the day, but down sharply from January levels above $2.40 and roughly 69% below its July high.
- Price is only part of it, Santiment said in an X post, adding that traders have grown tired of waiting for activity after years of anticipation around Ripple's legal position and institutional adoption.
- The fatigue has cut in even as developments supporting the sixth-largest token by market capitalization have started to proliferate.
According to onchain analysis firm Santiment's weighted sentiment metric, which combines the ratio of positive to negative posts on a token with the volume of commentary, the reading sat at minus 0.908 on Thursday, the lowest this year.
XRP traded at $1.14 on Friday, up 2.3% on the day, but down sharply from January levels above $2.40 and roughly 69% below its July high.
Price is only part of it, Santiment said in an X post, adding that traders have grown tired of waiting for activity after years of anticipation around Ripple's legal position and institutional adoption. Many appear to have moved on or cut their expectations.
Article preview — originally published by CoinDesk. Full story at the source.
Read full story on CoinDesk →
More top stories
Aggregated and edited by the Scoop newsroom. We surface news from CoinDesk alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop