XRP News: 70% of Traders Are Betting Big on XRP Despite $1.65 Crash

XRP has been through quite a ride lately. After soaring close to $3.20 back in January, the price has since tumbled more than 30%, dragging investor sentiment down with it. But now, things are shifting. Despite the recent XRP crash, many traders are flipping bullish, hoping the worst is behind us. It’s a familiar pattern in crypto that when prices fall, hope rises. The big question is whether this growing optimism is a sign of an upcoming rally or a warning that the market might surprise everyone again.

Most Traders Are Betting Big on a Rebound

According to data shared by crypto analyst Ali Martinez, about 70% of traders on Binance are currently going long on XRP. That’s a pretty strong show of confidence; only 29.67% are shorting the asset. The long/short ratio sits at 2.37, showing a clear lean toward bullish sentiment. But in markets, when too many people expect the same outcome, the opposite often happens. It’s what makes crypto so unpredictable. If the majority is this convinced that XRP will go up, the stage might be set for a sharp pullback instead.

XRP Open Interest Remains High, Alert Or Opportunity?

The XRP Open Interest for futures is still holding above $3.4 billion, showing that traders haven’t backed off despite the recent volatility. This kind of sustained interest usually means something big is brewing. It shows traders are active and ready to take on risk, but it also means that any surprise move, up or down, could be amplified. The last time we saw this much XRP open interest paired with strong sentiment, the XRP prices didn’t just move, it swung.

Graph 1 – published on Coinglass, April 7, 2025

So, with the crowd leaning bullish and open interest piling up, XRP is clearly at a make-or-break moment. Let’s dive into the technicals and see what the charts are telling us next.

XRP Price Action Analysis

XRP’s recent price action on the 5-minute chart shows a clear downtrend that persisted through much of the observed timeframe, moving within a descending channel. The XRP price broke below the $1.90 support, which triggered a sharper fall toward the $1.65 zone, now serving as a crucial support level. A trend channel reversal above the earlier falling channel briefly sparked optimism, but momentum faded quickly after a short-lived push near $1.80.

Notably, the RSI frequently dipped into oversold territory, indicating repeated short-term exhaustion during the drop. However, the asset failed to sustain rebounds, reflecting dominant bearish pressure. Despite a brief overbought condition around 18:00, selling resumed, showing sellers remain firmly in control near resistance.

Chart 1, Analyzed by Alokkp0608, published on April 7th, 2025.

After hitting the support near $1.65, XRP formed a new rising channel, supported by a bullish RSI recovery and several golden crosses on the MACD histogram. This suggests a shift in short-term sentiment, backed by momentum turning slightly in favor of buyers. The XRP price is now consolidating just under $1.80, a psychological barrier, where resistance has formed again. If bulls maintain control, we could see further upward movement; however, a rejection at this level could send XRP back toward its $1.65 support. 

Conclusion: XRP at a Critical Crossroads

The technical positioning of XRP suggests an uneasy stalemate between bullish aspirations and existing bearish influence. Although increasing long positions and expanding open interest indicate confidence by traders, there were several observations in historical studies that indicated the opposite outcome would probably occur, and this should not be disregarded. 

Following the recent XRP crash that wiped over 30% from its January highs, the immediate recovery within a new rising channel is encouraging. However, without an upper breakout above the previous resistance price, the bullish case could quickly crumble. Sentiment is heating up, volatility is imminent, and XRP is at an important price level. An important XRP price movement from this point will likely set the next significant swing. Traders should be aware of these levels moving ahead for potential price swings, but always be mindful of the overall sentiment in the market and the larger trending patterns.