The sentiment behind XRP has been strongly positive recently. This was partly down to the strong gains XRP made to get January off to a good start. In fact, so far this month, the altcoin has rallied by 14.5%.
Since Tuesday, 06 January, there has been a sizeable retracement though as Bitcoin [BTC] faced a rejection at the local resistance at $94.5k. According to Santiment, there was a surge of positive sentiment during the recent retracement.
Source: Santiment
This was spurred by retail traders’ attempts to “buy the dip” as the price approached the $2-psychological support. The positive sentiment shift was contrasted by the $17.7 million outflows from the XRP Spot ETF- The first ever outflows.
Whale accumulation and profit-taking activity trends give XRP bulls hope
Source: Santiment
The supply distribution trends among small and large XRP holders revealed a trend of…
