Quick overview

Live XRP/USD Chart

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Binance traders are becoming more optimistic about Ripple’s token, according to on-chain data.

 

CoinGlass data indicates that a large number of users are maintaining long positions on XRP, outnumbering shorts based on Binance’s long/short ratio (accounts), which measures the ratio of long to short accounts. This ratio reflects the percentage of net long and net short accounts among all trading accounts.

CoinGlass reports that the long/short ratio for XRP/USDT accounts on Binance is 3.05.

This means there are 3.05 times as many traders holding long positions compared to those with short positions. Among top traders on Binance for XRP/USDT, the ratio is even higher at 3.67, indicating a consistent trend.

This suggests that traders holding long positions outnumber those with shorts by a factor of 3.67. XRP reached $3 during Thursday’s session as bulls continued a broader recovery, raising the question: Will it hit $4 next?

XRP was trading around $3, gaining nearly 6% over the week. Bulls try to overcome this barrier to push the XRP price higher, aiming for a significant breakout above the daily SMA 50 at $3.01, which has been a resistance since September 9 but remains unbroken.

XRP price may follow two possible paths: first, breaking above $3.05 and then surging to $3.60; second, retracing to $2.90 and testing $ 2.90 before moving higher to target $3.60. In both cases, the goal is to reach $3.60, moving closer to the coveted $4 mark.

XRP has gained 468 percent over the past year, according to CoinGecko data, supported by a bull run from nearly $0.50 in November 2024..