XRP Traders Remain Overwhelmingly Long on Binance

XRP traders on Binance appear to be bullish as long positions have surpassed shorts over the last few days. The latest Coinglass chart for the XRP/USDT perpetual market indicates that longs continue to dominate—an indication that most traders expect a rise in XRP price in the coming days.

XRP traders remain bullish

A comparison of the long and short positions on the chart shows that the longs (green bars) make up over 70% of total positions during the observed period. Shorts (red bars) have barely gained any significant momentum.

However, XRP sentiment hasn’t been entirely stable, as the line graph displays sharp dips and rebounds. Around May 19, interest from longs dipped temporarily, with shorts gaining the upper hand before a quick recovery. During this period, the percentage of long accounts dropped closer to 50% before rebounding.

This shift reflects some uncertainty in the market, but the sharp return to a higher long ratio shows a strong underlying belief by traders that XRP price could recover and continue rising.

The price trend (represented by the black line over the long/short bars) mirrors the shift in sentiment. Even during price pullbacks, longs remained above 60%, indicating that most traders considered the dips as buying opportunities rather than reasons to exit positions.

Since this long/short account ratio is based on the number of trader accounts on each side, it highlights the breadth of the bullish sentiment. The significant number of accounts leaning toward longs points to a broader retail optimism.

Still, the current wave of optimism around XRP can change quickly, especially if traders begin factoring in other important elements such as macroeconomic conditions.

XRP active addresses show steady activity

Meanwhile, data from Glassnode shows that the number of active addresses on the XRP network has fluctuated noticeably over the past ten days. As of May 12, active addresses stood slightly above 38,000. However, a sharp decline followed, with the number dropping to about 33,000 by May 16.

On May 17, there was a sudden spike in activity, with active addresses rising to nearly 44,000—the highest level during this period. Twenty-four hours later, the number fell below 30,000 and remained in that range for the next three days. Then, on May 21, it rebounded to approximately 33,000.

As of the latest CoinMarketCap update, XRP is trading at $2.41 after a 1.28% gain in the last 24 hours.

Source