The $XRP futures market is seeing increased bullishness despite the recent price drop, as whale accounts on Binance show “Extremely Bullish” sentiment.
$XRP closed the previous session down 1.55%, bringing its price to $1.38. Although the spot market shows short-term weakness, futures data from CoinGlass reveals a more bullish structure. Across Binance, OKX, and Bybit, most investor groups remain bullish despite the recent decline.
This leads to an important question: are traders treating the dip as a chance to buy, or could the large number of long positions face more liquidations if the decline continues?
Whale Accounts on Binance Flash “Extremely Bullish” Signal
Specifically, CoinGlass data shows that whale accounts on Binance have a long/short ratio of 2.74, placing their sentiment in the Extremely Bullish category.
Other major investor groups on the exchange also favor long positions. Retail traders have a 2.47 long/short ratio, which puts them in the Bullish category, while the whale position long/short ratio stands at 1.96, also giving it a Bullish reading.
However, Smart Money takes a different position. This group records an Extremely Bearish reading on Binance, even as retail traders and whale accounts continue to favor long positions.
For context, Smart Money generally refers to more experienced market participants who may have access to better market tools and information. Its bearish position represents a warning for $XRP bulls because it goes against the wider bullish trend on Binance.
OKX Shows Stronger Bullish Alignment for $XRP
Meanwhile, OKX shows a more consistent bullish picture across its investor groups. Notably, retail traders have a 2.55 long/short ratio, which falls into the Extremely Bullish category. The whale position ratio reaches 30.86, also giving it an Extremely Bullish reading.
Smart Money on OKX also remains Extremely Bullish, unlike the same group on Binance. This suggests that sophisticated traders on OKX currently share the positive outlook held by retail traders and whale participants. The only neutral reading on OKX comes from the whale account long/short ratio, which stands at 1.13.
As for Bybit, the exchange shows a more divided picture. Retail traders and whale accounts both have a 3.39 long/short ratio, putting both groups in the Extremely Bullish category.
However, the whale position ratio stands at 0.98, which gives it a Neutral reading. Smart Money once again takes the opposite side, with an Extremely Bearish reading that matches its stance on Binance.
Long Liquidations Challenge the Bullish Outlook
Interestingly, this overall bearish stance follows a string of long liquidations. Notably, $XRP recorded $7.91 million in total futures liquidations over the past 24 hours, with long positions accounting for $7.62 million. This means longs made up roughly 96% of all forced closures during that period.
The 12-hour figures are even more bearish. $XRP futures recorded $4.97 million in total liquidations, while long positions accounted for $4.95 million, or 99% of the total. These numbers show that bullish traders have taken most of the liquidation pressure as $XRP fell toward $1.38.
Trading volume also gives sellers a slight advantage. Short volume reached $1.92 billion over the past 24 hours, accounting for 52.78% of total futures activity. Long volume stood at $1.72 billion, or 47.22%.