Binance Traders Bet Big on XRP Despite Market-Wide Uncertainty

Recent trading data shows a clear tilt toward optimism among Binance users when it comes to XRP.

According to figures from CoinGlass, nearly 68% of traders on the platform have opened long positions on the token, giving it a long-to-short ratio of 2.09. This trend is mirrored among Binance’s top-tier traders — those ranked in the highest 20% based on margin balances — who also appear to be betting heavily on XRP’s upward potential.

However, this sentiment isn’t reflected across the broader market. In fact, when looking at all trading platforms combined, a slight majority — just over 51% — are actually leaning short on XRP, suggesting Binance’s bullish stance may be more isolated. Other platforms like BitMEX have also shown some positive sentiment, but it’s far from unanimous.

Bitcoin, by contrast, is currently facing more pessimism on Binance, with 55% of accounts shorting the asset.

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XRP’s open interest has dropped to $3.15 billion following a 4% decline over the past day, indicating some cooling in derivatives activity. Meanwhile, close to $4 million worth of XRP positions have been liquidated in the same timeframe, and the majority of those were long positions — making up about 61.5% of the total.

At the time of writing, XRP is trading at $2.15 on Binance after briefly peaking at $2.16 earlier in the day. The token has made a notable recovery of around 25% since it hit a low of $1.60 on April 7, which came during a broader market downturn linked to economic concerns.

Alexander Stefanov