{"id":569773,"date":"2024-01-16T15:00:23","date_gmt":"2024-01-16T15:00:23","guid":{"rendered":"https:\/\/uniquehot.com\/?p=569773"},"modified":"2024-06-11T09:39:18","modified_gmt":"2024-06-11T09:39:18","slug":"xrp-investors-become-fearful-time-to-buy","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple\/xrp-investors-become-fearful-time-to-buy\/","title":{"rendered":"XRP Investors Become Fearful: Time To Buy?"},"content":{"rendered":"

Data shows the sentiment around XRP has taken a plunge following the failed attempt at a Bitfinex attack using the “partial payments exploit.”<\/p>\n

XRP Weighted Sentiment Has Plunged To Negative Levels Recently<\/h2>\n

As explained by the on-chain analytics firm Santiment in a new post<\/a> on X, the sentiment around XRP has turned negative. The indicator of interest here is the “Weighted Sentiment<\/a>,” which itself is based on two other metrics: the “Sentiment Balance” and “Social Volume.”<\/p>\n

Related Reading: Dogecoin To See 24% Rally To $0.100 If This Holds: Analyst<\/a><\/div>\n

The former of these basically keeps track of the sentiment currently present among social media users around any topic. The indicator calculates this score by going through social media posts and using a machine-learning model to separate between negative and positive sentiments.<\/p>\n

The other relevant metric here, the Social Volume<\/a>, measures the amount of discussion related to any given topic that’s happening on the major social media platforms right now. The indicator measures this by counting the total number of unique posts or threads making at least one mention of the topic.<\/p>\n

Now, what the “Weighted Sentiment” does is that it takes the Sentiment Balance and weighs it against the Social Volume. What this means is that the Weighted Sentiment’s value would only register a spike when not only is the sentiment leaning towards one side, but the sample size of these posts is also large.<\/p>\n

The below chart shows the trend in this indicator for XRP over the last few months:<\/p>\n

\"XRP<\/p>\n

Looks like the value of the metric has taken a plunge in recent days | Source: Santiment on X<\/a><\/pre>\n

When the Weighted Sentiment has a highly positive value, it means that there is a high amount of positive discussion happening related to the asset. From the graph, it’s visible that XRP saw such a bullish sentiment earlier in the month when its price made a recovery attempt.<\/p>\n

Since then, however, the indicator’s value has plummeted for the cryptocurrency and is now floating deep inside the negative zone. Naturally, this implies that social media users are now bearish about the coin.<\/p>\n

Santiment has noted that this sentiment, which is the most negative in years, has come for XRP as a failed Bitfinex hack attempt<\/a> has taken place. During this attack, someone tried to make use of the “partial payments” system of the cryptocurrency to trick the exchange into thinking the transfer amount was greater than it actually was (equal to half the asset’s circulating supply, in fact).<\/p>\n

Bitfinex, however, had the correct configuration in place to read transactions of this type, so the platform never fell for the exploit. Even though nothing ended up happening, the initial confusion naturally worsened the sentiment around the asset.<\/p>\n

Related Reading: How Low Can Bitcoin Go? CryptoQuant Head Reveals Target<\/a><\/div>\n

This negative sentiment, though, can actually be a boon in disguise for XRP, as historically, the price has tended to move against the expectations of the majority.<\/p>\n

This might also be the reason that the recovery attempt earlier in the year failed, as traders got too hyped too quickly. Since the sentiment is completely opposite now, perhaps a price surge might have an easier time growing up.<\/p>\n

XRP Price<\/h2>\n

Since the asset’s failed recovery attempt, XRP has been moving mostly sideways, as it currently trades around the $0.576 level.<\/p>\n

\"XRP<\/p>\n

The price of the coin seems to have been stuck in consolidation recently | Source: XRPUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"

Data shows the sentiment around XRP has taken a plunge following the failed attempt at a Bitfinex attack using the “partial payments exploit.” XRP Weighted Sentiment Has Plunged To Negative Levels Recently As explained by the on-chain analytics firm Santiment in a new post on X, the sentiment around XRP has turned negative. The indicator of interest here is the “Weighted Sentiment,” which itself is based on two other metrics: the “Sentiment Balance” and “Social Volume.” Related Reading: Dogecoin To See 24% Rally To $0.100 If This Holds: Analyst The former of these basically keeps track of the sentiment currently present among social media users around any topic. The indicator calculates this score by going through social media posts and using a machine-learning model to separate between negative and positive sentiments. The other relevant metric here, the Social Volume, measures the amount of discussion related to any given topic that’s happening on the major social media platforms right now. The indicator measures this by counting the total number of unique posts or threads making at least one mention of the topic. Now, what the “Weighted Sentiment” does is that it takes the Sentiment Balance and weighs it against the Social Volume. What this means is that the Weighted Sentiment’s value would only register a spike when not only is the sentiment leaning towards one side, but the sample size of these posts is also large. The below chart shows the trend in this indicator for XRP over the last few months: Looks like the value of the metric has taken a plunge in recent days | Source: Santiment on X When the Weighted Sentiment has a highly positive value, it means that there is a high amount of positive discussion happening related to the asset. From the graph, it’s visible that XRP saw such a bullish sentiment earlier in the month when its price made a recovery attempt. Since then, however, the indicator’s value has plummeted for the cryptocurrency and is now floating deep inside the negative zone. Naturally, this implies that social media users are now bearish about the coin. Santiment has noted that this sentiment, which is the most negative in years, has come for XRP as a failed Bitfinex hack attempt has taken place. During this attack, someone tried to make use of the “partial payments” system of the cryptocurrency to trick the exchange into thinking the transfer amount was greater than it actually was (equal to half the asset’s circulating supply, in fact). Bitfinex, however, had the correct configuration in place to read transactions of this type, so the platform never fell for the exploit. Even though nothing ended up happening, the initial confusion naturally worsened the sentiment around the asset. Related Reading: How Low Can Bitcoin Go? CryptoQuant Head Reveals Target This negative sentiment, though, can actually be a boon in disguise for XRP, as historically, the price has tended to move against the expectations of the majority. This might also be the reason that the recovery attempt earlier in the year failed, as traders got too hyped too quickly. Since the sentiment is completely opposite now, perhaps a price surge might have an easier time growing up. XRP Price Since the asset’s failed recovery attempt, XRP has been moving mostly sideways, as it currently trades around the $0.576 level. The price of the coin seems to have been stuck in consolidation recently | Source: XRPUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":569790,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[4531,87392,87944,87942,91193,10972],"class_list":["post-569773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-xrp","tag-xrp-bullish","tag-xrp-fear","tag-xrp-sentiment","tag-xrp-weighted-sentiment","tag-xrpusd"],"acf":[],"yoast_head":"\nXRP Investors Become Fearful: Time To Buy?<\/title>\n<meta name=\"description\" content=\"Data shows the sentiment around XRP has taken a plunge following a failed attempt at a Bitfinex attack using the "partial payments 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Investors Become Fearful: Time To Buy?","url":"http:\/\/uniquehot.com\/news\/ripple\/xrp-investors-become-fearful-time-to-buy\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ripple\/xrp-investors-become-fearful-time-to-buy\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/kanchanara-0kRsP5iRZI4-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/kanchanara-0kRsP5iRZI4-unsplash.jpg?fit=6048%2C4024"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["xrp","xrp bullish","xrp fear","xrp sentiment","xrp weighted sentiment","xrpusd"],"dateCreated":"2024-01-16T15:00:23Z","datePublished":"2024-01-16T15:00:23Z","dateModified":"2024-06-11T09:39:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Investors Become Fearful: Time To Buy?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/xrp-investors-become-fearful-time-to-buy\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/xrp-investors-become-fearful-time-to-buy\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/kanchanara-0kRsP5iRZI4-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/kanchanara-0kRsP5iRZI4-unsplash.jpg?fit=6048%2C4024\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"xrp\",\"xrp bullish\",\"xrp fear\",\"xrp sentiment\",\"xrp weighted sentiment\",\"xrpusd\"],\"dateCreated\":\"2024-01-16T15:00:23Z\",\"datePublished\":\"2024-01-16T15:00:23Z\",\"dateModified\":\"2024-06-11T09:39:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/kanchanara-0kRsP5iRZI4-unsplash.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/569773"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=569773"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/569773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/569790"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=569773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=569773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=569773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}