Ripple IG Client Sentiment: Our data shows traders are now at their least net-long Ripple since Mar 29 when Ripple traded near 0.16.
Number of traders net-short has increased by 52.94% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
Ripple: Retail trader data shows 94.62% of traders are net-long with the ratio of traders long to short at 17.60 to 1. Our data shows traders are now at their least net-long Ripple since Mar 29 when Ripple traded near 0.16. The number of traders net-long is 0.22% lower than yesterday and 2.14% lower from last week, while the number of traders net-short is 15.56% higher than yesterday and 52.94% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Ripple prices may continue to fall.
Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Ripple price trend may soon reverse higher despite the fact traders remain net-long.