Analytics Firm Says Bitcoin and XRP Flashing Bullish Signals, Predicts Further Downside for One Top-25 Altcoin

Crypto analytics firm Santiment says both Bitcoin (BTC) and XRP are sending bullish signals amid market downturns.

Starting with Bitcoin, Santiment To tell The rise in the social superiority index of flagship crypto assets.

According to Santiment, the social dominance index, which shows the proportion of discussions on various platforms focused on one asset at a given time relative to other assets, has historically been a reliable predictor of bottoms. acted as a signal.

Bitcoin price hits three-month low. Negative comments surge to monthly highs according to our sentiment data. Short selling on exchanges has at least stopped the bleeding. BTC’s social dominance is also skyrocketing, which is a historically good bottom signal.”

XRP Turns to Santiment To tell Optimism among traders that Ripple Labs and the U.S. stock exchange will reach a settlement in an ongoing lawsuit has contributed to the rise in the price of the sixth-largest crypto asset by market capitalization.

Last week, the XRP network was +17% while Bitcoin (-5%), Ethereum (-16%) and most cryptocurrencies fell. The battle has largely led to increased trader optimism and high whale movements.

Santiment will next look at the Ethereum (ETH) fork and proof-of-work blockchain, Ethereum Classic (ETC).crypto analysis company To tell The 22nd largest crypto asset by market capitalization is set to fall further as short-term interest rates surge.

According to Santiment, Ethereum Classic has experienced the highest level of short-term interest rates on exchanges among 150 crypto assets, while blockchain interoperability platform REN has witnessed the highest level of long-term interest rates. increase.

Ethereum Classic has seen high levels of bets on its price, especially after last weeks ETH consolidation. The rate shows that traders are expecting further declines.

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