XRP social sentiment reached its lowest level since July as the token traded near $1.15, with the total negative sentiment reading at 5.8435. The ratio of positive to negative sentiment stood at 0.65426, indicating a shift toward bearish dominance among social media users. The broader cryptocurrency market also reflected this mood, with the Fear and Greed Index registering 32, a level classified as fear.
Price Breaks Key Support
The decline in sentiment coincided with a sharp drop in XRP’s price on the 4-hour chart, falling from $1.32 to $1.15. The token broke below a key support level at $1.24 during a broader market sell-off. According to CoinGlass, the breakdown of the $1.24 level triggered long liquidations and stop losses totaling more than $10.23 million. Open Interest in XRP derivatives also decreased significantly, falling from $3.78 billion to $2.77 billion.
ETF flows provided little support during this period. This month, XRP ETFs recorded only one day of outflows, with the remaining days showing no activity. The lack of inflows contributed to the pressure on the token’s price, which remained just above the $1 psychological threshold at the time of reporting. Despite the decline, buying volume exceeded selling volume, suggesting a potential reduction in selling pressure.
Garlinghouse Reaffirms XRP Focus
Amid the market downturn, Ripple CEO Brad Garlinghouse reiterated the importance of XRP to the company. During the Ripple Swell event, Garlinghouse described XRP and the XRP Ledger as Ripple’s “North Star,” defining it as the core purpose and guiding principle of the firm. These comments addressed questions about whether the launch of the Ripple USD (RLUSD) stablecoin would shift the company’s focus away from its native token. Garlinghouse stated that RLUSD is competing with other stablecoins, not replacing XRP.
Technically, the $1.15 level represents the last lower high before a previous market structure shift turned XRP bullish. Analysts noted that the current decline could be a retest of that structural shift. If XRP falls below $1.15, the next identified demand zone is at $0.98. The token’s ability to hold above this level will determine whether the recent sentiment drop marks a temporary correction or a deeper downtrend.
Frequently Asked Questions
What is XRP’s current social sentiment level?
XRP’s social sentiment hit its lowest level since July, with a total negative sentiment reading of 5.8435 and a positive-to-negative ratio of 0.65426.
What did Brad Garlinghouse say about XRP?
Brad Garlinghouse described XRP and the XRP Ledger as Ripple’s “North Star” during the Ripple Swell event, emphasizing its role as the company’s guiding principle.
